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(Z3) Bear Threat Remains Present

BUND TECHS
  • RES 4: 132.91 High Aug 8
  • RES 3: 132.78 High Sep 1
  • RES 2: 131.82 High Sep 4
  • RES 1: 131.28 20-day EMA
  • PRICE: 130.73 @ 05:04 BST Sep 12
  • SUP 1: 130.35 Low Sep 7
  • SUP 2: 129.93 Low Aug 21
  • SUP 3: 129.72 Low Aug 15 and key support
  • SUP 4: 129.30 1.00 proj of the Jul 19 - Aug 4 - Aug 8 price swing

Bund futures continue to trade closer to their recent lows and remain vulnerable. Last week’s move lower resulted in a break of 131.18, the Aug 28 low. The move down undermines the recent bullish theme and signals scope for a deeper retracement. Furthermore, the contract has breached support at 130.71, the Aug 23 low. A continuation would expose 129.72, the Aug 15 low and a key support. Key resistance is at 132.91, the Aug 8 high.

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