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(Z2) Bearish Outlook

  • 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: 143.47 @ 04:59 BST Sep 15
  • SUP 1: 142.46 2.618 proj of the Aug 2 - 12 - 15 price swing
  • 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 are consolidating. The contract remains in a bear mode and is trading closer to its recent lows. Futures are retracing 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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