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(Z0) Uptrend Accelerates

BUND TECHS
  • RES 4: 177.18 High Sep 3 (cont)
  • RES 3: 176.94 High Sep 8 (cont)
  • RES 2: 176.57 1.618 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • RES 1: 176.32 1.500 proj of Aug 28 - Sep 9 rally from the Sep 10 low
  • PRICE: 175.86 @ 04:58 BST Oct 16
  • SUP 1: 175.35 Low Oct 15
  • SUP 2: 175.04 Low Oct 14
  • SUP 3: 174.67 20-day EMA
  • SUP 4: 174.25 50-day EMA

Bunds continued to rally Thursday, accelerating sharply higher. This week has seen futures clear resistance at 174.97, Oct 2 high and more importantly, the key level at 175.08, Aug 4 high. The breach of 175.08 confirms a resumption of the broader uptrend and sets the scene an extension higher. The next objectives and potential resistance levels are at 176.32 and 176.57, both Fibonacci projections. Initial support is at 175.35, Thursday's low.

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