BUND TECHS: (H5) Corrective Pullback Remains In Play

• RES 4: 137.72 High Oct 1 and a key resistance           
• RES 3: 137.28 High Oct 2
• RES 2: 136.52/137.18 High Dec 6 / 2 and the bull trigger
• RES 1: 136.01 High Dec 12                
• PRICE: 134.94 @ 05:42 GMT Dec 13
• SUP 1: 134.82 Low Dec 12 
• SUP 2  134.59 50.0% retracement of the Nov 6 - Dec 2 bull cycle               
• SUP 3: 133.98 61.8% retracement of the Nov 6 - Dec 2 bull cycle
• SUP 4: 133.62 Low Nov 22  

The current bearish corrective cycle in Bund futures remains in play and yesterday’s extension signals scope for a continuation of the bear leg near-term. Price is trading at this week’s lows and sights are on 134.59, a Fibonacci retracement point. A break of this level would strengthen the current downleg. For bulls, a reversal higher would signal the end of the correction. First resistance is yesterday’s high of 136.01.