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(Z0) Bears Return

BUND TECHS
  • RES 4: 176.08 76.4% retracement of the Nov 4 - 11 sell-off
  • RES 3: 175.73 High Nov 20
  • RES 2: 175.45 High Dec 1
  • RES 1: 174.96 Nov 25 and former breakout level
  • PRICE: 174.54 @ 04:44 GMT Dec 2
  • SUP 1: 174.45 Low Nov 16
  • SUP 2: 173.66 Low Nov 11 and the bear trigger
  • SUP 3: 173.33 76.4% retracement of the Aug 28 - Nov 4 rally
  • SUP 4: 173.06 Low sep 10

Bund futures sold off sharply yesterday breaking through support at 174.96, Nov 25 low. The sharp move lower suggests the recovery between Nov 11 - 20, a correction, is over. Attention turns to support at 174.45, Nov 16 low, where a break would signal scope for further weakness and open the key handle at 173.66, Nov 11 low and a bear trigger. On the upside, initial resistance is at 174.96.

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