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(Z0) Eyeing Resistance

BUND TECHS
  • RES 4: 174.93 High Aug 6
  • RES 3: 174.72 0.764 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 2: 174.51 High Aug 21, high Sep 9 and the bull trigger
  • RES 1: 174.32 High Sep 14
  • PRICE: 174.10 @ 04:35 BST Sep 17
  • SUP 1: 173.54 Low Sep 11
  • SUP 2: 173.06 Sep 10 low and key near-term support
  • SUP 3: 172.75 76.4% retracement of the Aug 28 - Sep 9 rally
  • SUP 4: 172.24 Low Aug 28 and major support

Bund futures continue to hold above the Sep 10 low of 173.06 low and a positive outlook is maintained. The recent recovery refocuses attention on key resistance defined at 174.51,Sep 9 high. Clearance of this hurdle would reinstate a bullish theme and open 175.08, Aug 4 high. Sub 173.06 levels would instead highlight a bearish threat. This would set the scene for a deeper pullback towards 172.24, Aug 28 low.

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