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(Z1) Needle Still Points South

BUND TECHS
  • RES 4: 170.55 High Oct 4
  • RES 3: 170.11 50-day EMA
  • RES 2: 169.83 High Oct 27 and key resistance
  • RES 1: 169.07 20-day EMA
  • PRICE: 168.555 @ 05:15 GMT Nov 2
  • SUP 1: 167.69 Low Nov 1
  • SUP 2: 167.52 Low Mar 19 2020 (cont)
  • SUP 3: 166.33 Low May 21 2019 (cont)
  • SUP 4: 166.16 2.50 proj of the Oct 14 - 22 - 27 price swing

Bund futures registered a fresh trend low of 167.69 Monday. This maintains the current bearish trend condition and the price sequence of lower lows and lower highs that defines a downtrend. With momentum and moving average signals remaining in a bear mode condition, scope is seen for weakness towards 167.52 next, the Mar 19 2020 low (cont). Key short-term trend resistance has been defined at 169.83, Oct 27 high.

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