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(Z0) Probes Key Resistance

BUND TECHS
  • RES 4: 176.00 round number resistance
  • RES 3: 175.74 1.236 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 2: 175.23 1.00 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 1: 174.13 High Oct 13
  • PRICE: 175.08 @ 04:50 BST Oct 14
  • SUP 1: 174.45 20-day EMA
  • SUP 2: 173.93 Low Oct 7 and the key support
  • SUP 3: 173.74 Low Sep 17
  • SUP 4: 173.61 50.0% retracement of the Aug 28 - Oct 2 high

Bund futures maintain a positive tone. The contract found support last week at 173.93, Oct 7 low and the resulting move higher has this week seen futures clear resistance at 174.97, Oct 2 high and probe the key levels at 175.08, Aug 4 high. A clear breach of 175.08 would confirm a resumption of the broader uptrend and open 175.23 and 175.74, both Fibonacci projections. Key support trend support is at 173.93. Initial support lies at 174.45.

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