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(Z2) Bullish Outlook

BUND TECHS
  • RES 4: 144.29 1.236 proj of the Oct 21 - 28 - Nov 8 price swing
  • RES 3: 142.87 High Oct 4 and a key reversal point
  • RES 2: 142.75 38.2% retracement of the Aug 2 - Oct 21 bear leg
  • RES 1: 142.60 High Nov 24
  • PRICE: 141.97 @ 05:20 GMT Nov 25
  • SUP 1: 139.55/138.26 20-day EMA / Low Nov 14
  • SUP 2: 136.92 Low Nov 9
  • SUP 3: 135.76/65 Low Nov 8 / 76.4% of the Oct 21 - 28 bull phase
  • SUP 4: 135.23 Low Oct 24

Bund futures have breached the recent high of 141.09, the Nov 17 high. This reinforces bullish conditions and confirms a resumption of the current uptrend. Price has also cleared the 50-day EMA at 140.11. The clear break of this average highlights a stronger short-term reversal. Potential is seen for a climb towards 142.87, the Oct 4 high. The 20-day EMA marks initial firm support - it intersects at 139.55.

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