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(Z0) Pulls Away From 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: 174.97 High Oct 2
  • PRICE: 174.27 @ 04:53 BST Oct 6
  • SUP 1: 174.17 Low Oct 1 and the 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 traded lower yesterday. The contract has yet to test the 175.00 handle and attention turns to support at 174.17, Oct 1 low. A break of this level would set the scene for a deeper pullback and open 173.74, Sep 17 low. From a trend perspective, the outlook remains bullish however a move above key resistance at 175.08, Aug 4 high is required to reinforce this outlook. A break would open 175.23, a Fibonacci projection.

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