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(Z3) Clears Resistance To Resume Its Uptrend

BUND TECHS
  • RES 4: 133.45 High Jul 24
  • RES 3: 132.97 1.618 proj of the Oct 4 - 12 - 23 price swing
  • RES 2: 132.78 High Sep 1 and a key resistance
  • RES 1: 132.55 1.50 proj of the Oct 4 - 12 - 23 price swing
  • PRICE: 132.34 @ 05:24 GMT Nov 29
  • SUP 1: 130.53 20-day EMA
  • SUP 2: 130.11 Low Nov 24
  • SUP 3: 129.60 Low Nov 14
  • SUP 4: 129.35 Low Nov 7 / 13 and key short-term support

Bund futures maintain a firmer short-term tone and this week’s gains are a positive development. The contract has traded above resistance at 131.74, the Nov 17 high, confirming a resumption of the uptrend.The break higher maintains the bullish price sequence of higher highs and higher lows and sights are set on 132.78, the Sep 1 high and a key resistance. Key support has been defined at 130.11, the Nov 24 low.

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