Free Trial

(Z1) Outlook Remains Bullish

BUND TECHS
  • RES 4: 172.12 High Sep 14
  • RES 3: 171.95 61.8% retracement of the Aug - Nov sell-off
  • RES 2: 171.72 High Sep 23
  • RES 1: 171.44 High Nov 9
  • PRICE: 170.34 @ 05:22 GMT Nov 11
  • SUP 1: 170.06 Low Nov 5
  • SUP 2: 168.98 Low Nov 3
  • SUP 3: 167.69 Low Nov 1 and the bear trigger
  • SUP 4: 167.52 Low Mar 19 2020 (cont)

Bund futures traded higher Tuesday to confirm an extension of last week's gains. The outlook remains bullish. The recent breach of resistance at 169.83, Oct 27 high and the break of the 50-day EMA highlights this theme and signals scope for a stronger short-term corrective bounce. 171.14, 50.0% of the Aug - Nov sell-off has been breached and attention is on 171.95, the 76.4% level. On the downside, initial support is at 170.06.

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.