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(Z2) Trend Needle Points North

BUND TECHS
  • RES 4: 142.87 High Oct 4 and a key reversal point
  • RES 3: 142.00 Round number resistance
  • RES 2: 141.74 High Oct 5
  • RES 1: 141.09 High Nov 17
  • PRICE: 140.46 @ 05:09 GMT Nov 21
  • SUP 1: 138.78 20-day EMA
  • 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 maintain a bullish tone and the contract is trading closer to its recent highs. Price is trading just above the 50-day EMA at 139.94. A clear breach of this average would threaten the recent bearish theme and highlight a stronger short-term reversal. This would open 142.87, the Oct 4 high. The 20-day EMA marks initial support - it intersects at 138.78. Key short-term support lies at 135.76, the Nov 8 low.

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