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(Z3) Trades Through Last Week’s Low

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: 131.22 20-day EMA
  • PRICE: 130.44 @ 05:00 BST Sep 13
  • SUP 1: 130.27 Intraday low
  • 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 are trading lower and the contract has breached 130.35, the Sep 7 low. This reinforces bearish conditions and extends last week’s move down that resulted in the break of a number of short-term support points. Note that moving average studies remain in a bear mode position, highlighting a primary downtrend. 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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