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(Z0) Off Recent Highs

BUND TECHS
  • RES 4: 175.74 1.236 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 3: 175.23 1.000 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 2: 175.08 High Aug 4 and the bull trigger
  • RES 1: 174.95 High Sep 30
  • PRICE: 174.77 @ 04:51 BST Sep 30
  • SUP 1: 174.22 20-day EMA and key near-term support
  • SUP 2: 173.74 Low Sep 17
  • SUP 3: 173.54 Low Sep 11
  • SUP 4: 173.06 Sep 10 low and the reversal trigger

Bund futures have pulled back from recent highs. This week's breach of the first of two important resistance levels, 174.85, Sep 21 high is a positive development. It brings into focus the next key hurdle for bulls at 175.08, Aug 4 high. A bullish theme dominates following the recent break of 174.51, Aug 21 and Sep 9 high. Clearance of 175.08 would reinforce bullish conditions and open 175.23, a Fibonacci projection. Initial firm support is at 174.22.

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