Free Trial

(Z0) Eyeing Resistance

BUND TECHS
  • RES 4: 175.23 1.000 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 3: 175.08 High Aug 4 and the bull trigger
  • RES 2: 174.93 High Aug 6
  • RES 1: 174.85 High Sep 21
  • PRICE: 174.61 @ 04:47 BST Sep 28
  • SUP 1: 174.16 Low Sep 25
  • SUP 2: 173.74 Low Sep 17 and key near-term support
  • SUP 3: 173.54 Low Sep 11
  • SUP 4: 173.06 Sep 10 low and the reversal trigger

Bund futures traded higher Friday. The contract maintains a firmer posture despite still trading below 107.85, Sep 21 high. A bullish theme follows the breach of 174.51, Aug 21 and Sep 9 high. The break confirmed a resumption of the uptrend that has been in place since Aug 28 and paves the way for a test of primary resistance at 175.08, Aug 4 high. Clearance of this level would open 175.23, a Fibonacci projection. Firm support is at 173.74, Sep 17 low.

To read the full story

Close

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.