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(Z2) Bearish Extension

BUND TECHS
  • RES 4: 148.97 High Aug 25
  • RES 3: 148.00 Round number resistance
  • RES 2: 145.82/146.81 High Sep 8 / High Sep 5
  • RES 1: 144.56 High Sep 12
  • PRICE: 143.06 @ 05:15 BST Sep 19
  • SUP 1: 142.15 Low Sep 16
  • SUP 2: 142.00 Round number support
  • SUP 3: 140.90 2.764 proj of the Aug 2 - 12 - 15 price swing
  • SUP 4: 140.67 Low Jun 16 2022 and a key support (cont)

Bund futures remain in a bear mode and the contract traded to a fresh trend low Friday, of 142.15. Futures continue to retrace the bull leg between Jun 16 - Aug 2 and a bearish price sequence of lower lows and lower highs remains intact. Moving average studies also highlight a bearish theme. The focus is on the 142.00 handle next. Firm resistance is at 146.81, the Sep 5 high. Gains would be considered corrective.

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