November 10, 2022 05:20 GMT
(Z2) Key Resistance Is At The 50-Day EMA
BUND TECHS
- RES 4: 142.87 High Oct 4 and a key reversal point
- RES 3: 141.74 High Oct 5
- RES 2: 140.04/92 50-day EMA / High Oct 28 and the bull trigger
- RES 1: 139.24 20-High Nov 2
- PRICE: 138.62 @ 05:04 GMT Nov 10
- SUP 1: 135.76/65 Low Nov 8 / 76.4% of the Oct 21 - 28 bull phase
- SUP 2: 135.23 Low Oct 24
- SUP 3: 134.02 Low Oct 21 and the bear trigger
- SUP 4: 133.74 0.618 proj of the Aug 2 - 12 - 15 price swing
Bund futures recovered Wednesday, extending the bounce from Tuesday’s low of 135.76. The primary trend direction remains down and key short-term resistance is at the 50-day EMA, which intersects at 140.04. A clear break of this EMA is required to highlight a stronger reversal. On the downside, a resumption of weakness and a move through 135.76, would resume bearish activity.
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