Free Trial

(Z1) Downtrend Intact

BUND TECHS
  • RES 4: 172.76 High Sep 2 and 3
  • RES 3: 172.48 High Sep 9
  • RES 2: 172.12 High Sep 14 and key near-term resistance
  • RES 1: 171.96 High Sep 21
  • PRICE: 171.55 @ 05:08 BST Sep 22
  • SUP 1: 170.81 Low Sep 17
  • SUP 2: 170.52 3.00 proj of the Aug 5 - 11 - 17 price swing
  • SUP 3: 170.22 3.236 proj of the Aug 5 - 11 - 17 price swing
  • SUP 4: 170.00 Round number support

Bund futures remain in a downtrend and recent gains are considered corrective. A bearish theme follows the recent move through 172.00 with moving average studies pointing south. Furthermore, the move lower has maintained the bearish price sequence of lower lows and lower highs. Attention is on 170.52 next, a Fibonacci projection. Initial firm resistance is at 172.12, Sep 14 high. A break would ease the current bearish risk.

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.