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(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: 144.00 Round number resistance
  • RES 2: 143.87 High Sep 14
  • RES 1: 143.18 High Dec 2
  • PRICE: 141.89 @ 05:20 GMT Dec 5
  • SUP 1: 140.36/139.17 20-day EMA / Low Nov 14
  • SUP 2: 138.26 Low Nov 18
  • SUP 3: 136.92 Low Nov 9
  • SUP 4: 135.76/65 Low Nov 8 / 76.4% of the Oct 21 - 28 bull phase

Bund futures remain in an uptrend and the contract is trading closer to its recent highs. Resistance at 142.60, the Nov 24 high, has been pierced. This confirms a resumption of the current uptrend. Price has recently traded above the 50-day EMA at 140.36. The clear break of this EMA highlights a stronger reversal. Potential is seen for a climb to 143.87, the Sep 14 high. The 20-day EMA marks initial firm support - it intersects at 140.36.

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