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(Z1) Remains Below Resistance

BUND TECHS
  • RES 4: 170.55 High Oct 4
  • RES 3: 170.05 50-day EMA
  • RES 2: 169.83 High Oct 27 and key resistance
  • RES 1: 169.70 High Nov 3
  • PRICE: 169.17 @ 05:22 GMT Nov 3
  • 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 remain below recent highs and despite this week's gains, the trend condition remains bearish. The contract registered a fresh trend low of 167.69 Monday. This maintains the bearish price sequence of lower lows and lower highs. With momentum and moving average signals in a bear mode, scope is seen for weakness towards 167.52 next, Mar 19 2020 low (cont). Key short-term resistance has been defined at 169.83, Oct 27 high

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