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(Z1) Corrective Cycle

BUND TECHS
  • RES 4: 171.72 High Sep 23
  • RES 3: 170.98 50-day EMA
  • RES 2: 170.55 High Oct 4 and key near-term resistance
  • RES 1: 1170.02 20-day EMA
  • PRICE: 166.69 @ 05:16 BST Oct 15
  • SUP 1: 168.64/21 Low Oct 13 / Low Oct 12 and the bear trigger
  • SUP 2: 167.98 2.382 proj of the Sep 9 - 17 - 21 price swing
  • SUP 3: 167.79 2.50 proj of the Sep 9 - 17 - 21 price swing
  • SUP 4: 167.52 Low Mar 19 2020

Bund futures have entered a corrective phase following the strong bounce from Tuesday's low. Initial resistance is seen at 170.02, the 20-day EMA where a break would signal scope for a stronger short-term recovery, towards 170.55, Oct 4 high. The broader trend condition remains bearish and moving average signals continue to point south. A reversal lower would open 168.21, this week's low and the bear trigger.

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