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(Z3) Trend Needle Points North

BUND TECHS
  • RES 4: 135.18 High 2.236 proj of the Oct 4 - 12 - 23 price swing
  • RES 3: 135.00 High Jun 27 (cont)
  • RES 2: 134.29 High Jul 19
  • RES 1: 134.17 Intraday high
  • PRICE: 133.89 @ 10:01 GMT Dec 5
  • SUP 1: 133.03 Low Dec 4
  • SUP 2: 131.94/131.33 Low Nov 30 / 20-day EMA
  • SUP 3: 130.11 Low Nov 24 and a reversal trigger
  • SUP 4: 129.60 Low Nov 14

Bund futures maintain a firmer short-term tone following last week’s gains and this week’s continuation higher. The contract traded above 131.74 last week, 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 on 134.29 next, the Jul 19 high. Key support has been defined at 130.11, the Nov 24 low. Initial firm support lies at 131.94, the Nov 30 low.

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