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(Z0) Off Recent Highs

BUND TECHS
  • RES 4: 176.83 High Nov 4 and key resistance
  • RES 3: 176.46 High Nov 9
  • RES 2: 176.08 76.4% retracement of the Nov 4 - 11 sell-off
  • RES 1: 175.73 High Nov 20
  • PRICE: 175.27 @ 04:46 GMT Nov 24
  • SUP 1: 175.02 50-day EMA
  • SUP 2: 174.85 Low Nov 17
  • SUP 3: 174.45 Low Nov 16 and key near-term support
  • SUP 4: 173.66 Low Nov 11 and the bear trigger

Bund futures maintain the recent firmer posture despite trading lower. Recent gains that have marked a retracement of the sharp move lower between Nov 4 - 11 have resulted in a breach of the 61.8% retracement 175.62 and attention has turned to the 76.4% level 176.08. Clearance of this chart point would open the major resistance at 176.83, the Nov 4 high. On the downside, weakness through support at 174.45 is required to reinstate a bearish focus.

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