Free Trial

(Z0) Holding Onto Recent Gains

BUND TECHS
  • RES 4: 176.08 76.4% retracement of the Nov 4 - 11 sell-off
  • RES 3: 175.62 61.8% retracement of the Nov 4 - 11 sell-off
  • RES 2: 175.26 20-day EMA
  • RES 1: 175.17 High Nov 13
  • PRICE: 175.02 @ 05:01 GMT Nov 16
  • SUP 1: 174.26 Low Nov 12
  • SUP 2: 173.66 Low Nov 11
  • SUP 3: 173.32 76.4% retracement of the Aug 28 - Nov 4 rally
  • SUP 4: 173.06 Low Oct 9

Bunds are holding onto recent gains following last week's recovery off 173.66, Nov 11 low. The contract is testing a firm band of resistance between 174.96 and 175.26, the 50- and 20-day EMA levels. Clearance of this resistance would strengthen the short-term bullish outlook and signal scope for a stronger recovery. The sell-off on Nov 9 however continues to highlight a bearish threat. A return lower would refocus attention on support at 173.66.

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.