Free Trial

(Z1) Bearish Price Sequence

BUND TECHS
  • RES 4: 173.93 High Aug 25
  • RES 3: 172.76 High Sep 2 and 3
  • RES 2: 172.48 High Sep 9
  • RES 1: 172.32 High Sep 14 and key near-term resistance
  • PRICE: 171.25 @ 05:22 BST Sep 17
  • SUP 1: 171.10 Low Sep 16
  • SUP 2: 171.01 2.618 proj of the Aug 5 - 11 - 17 price swing
  • SUP 3: 170.82 2.764 proj of the Aug 5 - 11 - 17 price swing
  • SUP 4: 170.52 3.00 proj of the Aug 5 - 11 - 17 price swing

Bund futures traded lower yesterday and the contract remains weak. A bearish theme follows the recent move through 172.00. The break lower this week confirms a resumption of the downtrend from Aug 5 and paves the way for a deeper retracement. Attention is on 171.01 next, a Fibonacci projection. Initial firm resistance is at 172.32, Sep 14 high. A break would ease the current bearish sentiment.

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.