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(Z0) Bullish Conditions Remain Intact

BUND TECHS
  • RES 4: 177.00 Round number resistance
  • RES 3: 176.89 1.764 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 2: 176.57 1.618 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 1: 176.44 High Oct 29 and the bull trigger
  • PRICE: 176.34 @ 04:54 GMT Nov 3
  • SUP 1: 175.90 Low Oct 30 and Nov 2
  • SUP 2: 175.53 20-day EMA
  • SUP 3: 175.27 Low Oct 27
  • SUP 4: 175.08 Trendline support drawn off the Sep 1 low

Bunds rebounded off yesterday's intraday low and are holding onto recent gains with a positive tone maintained following last week's climb. Futures last week traded above the key resistance at 176.29, Oct 16 high confirming a resumption of the underlying uptrend that opens 176.57 next, a Fibonacci projection. Moving average studies maintain a positive structure reinforcing current conditions. Initial support lies at 175.90, Oct 30 and Nov 2 low.

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