Free Trial

(Z2) Trend Needle Still Points South

BUND TECHS
  • RES 4: 143.66 20-day EMA
  • RES 3: 142.58 High Sep 20
  • RES 2: 142.02 High Sep 22
  • RES 1: 140.99 High Sep 23
  • PRICE: 138.85 @ 05:38 BST Sep 26
  • SUP 1: 138.45 Low Sep 23
  • SUP 2: 138.16 3.618 proj of the Aug 2 - 12 - 15 price swing
  • SUP 3: 137.51 3.764 proj of the Aug 2 - 12 - 15 price swing
  • SUP 4: 136.46 4.00 proj of the Aug 2 - 12 - 15 price swing

Bund futures remain in a clear downtrend and the extension lower last week again confirmed a resumption of the bear leg that started early August. The major support at 140.67, the Jun 16 low (cont), has been cleared. The break strengthens the broader bearish outlook and confirms a resumption of the primary downtrend. With 140.00 pierced, attention turns to 138.16, a Fibonacci projection. The 20-day EMA, at 143.66 is a firm resistance.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.