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(Z3) Bull Cycle Remains In Play

BUND TECHS
  • RES 4: 131.82 High Sep 2
  • RES 3: 131.49 HIgh Sep 14
  • RES 2: 131.33 76.4% retracement of the Sep 1 - Oct 4 downleg
  • RES 1: 130.76 High Nov 3
  • PRICE: 130.45 @ 05:16 GMT Nov 8
  • SUP 1: 129.17 20-day EMA
  • SUP 2: 128.31/ 127.18 Low Oct 27 / 23
  • SUP 3: 126.62 Low Oct 4 and the bear trigger
  • SUP 4: 126.00 Round number support

Bund futures maintain a firmer tone - for now - and the contract is trading closer to its recent highs. Price has recently traded through key resistance at 130.20, the Oct 12 high and a bull trigger. A clear break of this hurdle would strengthen current bullish conditions. This would open 131.33, 76.4% of the Sep 1 - Oct 4 downleg. Firm support to watch is 128.31, the Oct 27 low. A breach would highlight a possible reversal.

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