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(Z1) Resistance Still Intact

BUND TECHS
  • RES 4: 171.72 High Sep 23
  • RES 3: 170.85 50-day EMA
  • RES 2: 170.55 High Oct 4 and key near-term resistance
  • RES 1: 169.92 High Oct 14
  • PRICE: 169.20 @ 05:17 BST Oct 19
  • 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 remain above recent lows following the strong bounce last week from 168.21, Oct 12 low. Initial resistance is seen at 169.92, the Oct 14 high 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. The trigger for a resumption of the downtrend is unchanged at 168.21.

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