November 28, 2022 05:22 GMT
(Z2) Trend Needle Still Points North
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: 141.21 @ 05:06 GMT Nov 28
- SUP 1: 139.64/138.26 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 maintain a bullish tone despite Friday's pullback. Last week’s breach of 141.09, the Nov 17 high, reinforced bullish conditions and confirmed a resumption of the current uptrend. Price has also cleared the 50-day EMA at 140.12. 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 139.64.
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