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(Z3) Uptrend Remains Intact

BUND TECHS
  • RES 4: 134.29 High Jul 19
  • RES 3: 134.00 Round number resistance
  • RES 2: 133.45 High Jul 24
  • RES 1: 132.97 1.618 proj of the Oct 4 - 12 - 23 price swing
  • PRICE: 132.51 @ 05:25 GMT Nov 30
  • SUP 1: 131.74/130.74 High Nov 17 / 20-day EMA
  • SUP 2: 130.11 Low Nov 24 and a reversal trigger
  • 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. 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 on 132.78, the Sep 1 high which has also been pierced. A clear break would open 133.45, the Jul 24 high. Key support has been defined at 130.11, the Nov 24 low.

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