Free Trial

(Z0) Sharp Sell-Off Clears Trendline Support

BUND TECHS
  • RES 4: 176.46 High Nov 9
  • RES 3: 175.53 Low Nov 4
  • RES 2: 175.39 Former trendline support drawn off the Sep 1 low
  • RES 1: 175.00 Low Oct 23
  • PRICE: 174.54 @ 04:54 GMT Nov 10
  • SUP 1: 174.26 Low Nov 9
  • SUP 2: 173.93 Low Oct 7 and a key support
  • SUP 3: 173.74 Low Sep 17
  • SUP 4: 173.32 76.4% retracement of the Aug 28 - Nov 4 rally

Sharp losses dominated price action in Bunds yesterday as a risk-on mood gripped financial markets. The sharp sell-off resulted in a break of trendline support drawn off the Sep 1 low and effectively suggests a reversal of the recent 2-month uptrend. Weakness through support at 175.00, Oct 23 low also reinforces the importance of yesterday's bearish pressure and has opened 173.93, Oct 7 low. Initial resistance is at 175.00.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.