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Free Access(U9) 173.49 is key risk for bulls *RES...>
BUND TECHS: (U9) 173.49 is key risk for bulls
*RES 4: 175.95 2.00 projection of the Mar 4-Mar 28 rally from Apr 17 low
*RES 3: 175.62 Bull channel top drawn off the Apr 17 low
*RES 2: 175.00 Round number resistance
*RES 1: 174.92 Contract high, Jul 25
*PRICE: 174.41 @ 02:41 GMT July 30
*SUP 1: 173.49 Low Jul 25 and key support
*SUP 2: 173.27 Low Jul 19
*SUP 3: 173.02 Low Jul 18
*SUP 4: 172.44 Low Jul 17
U9 Bund remains bullish. Attention is on last Thursday's session. Price action
traded within a wide daily range and closed down on the day. This activity is a
warning sign for bulls and potentially marks an early indication the trend is
mature. A key support and near term risk parameter for bulls has been defined at
173.49, the low of July 25. A break would confirm a top in the trend. While it
holds, the outlook remains bullish with the key trigger at 174.92.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.