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(Z0) Needle Points North

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
  • PRICE: 179.29 @ 04:56 GMT Oct 30
  • SUP 1: 175.92 Low Oct 29
  • SUP 2: 175.27 Low Oct 27 and a key support
  • SUP 3: 175.38 20-day EMA
  • SUP 4: 174.96 Trendline support drawn off the Sep 1 low

Bunds maintain a positive tone following this week's gains. Futures have 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. Yesterday's push higher negates the recent doji candle formation that highlighted the risk of a potential near-term top. Initial support lies at yesterday's low of 175.92. Bullish!

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