Euro Bund future: 3 consecutive higher lows, bearish signal below 163.56

Euro Bund future marked a series of 3 consecutive higher lows. Volume lower than the previous day, selling opportunity below 163.56.

Euro Bund future close slightly higher. Yesterday trading session ends at 163.74 (+0.18%). Marked a series of 3 consecutive higher lows. Technical analysis applied to the daily chart shows a neutral trend within a short term bullish one, so for today trading session the forecast of price movements is between support and resistance levels. The major oscillators confirm the neutral trend, however, a buy signal should be confirmed with increasing volume.
euro bund higher lows

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Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 163.64). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Volumes
Daily chart shows volume is lower than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 13/04/2016.

Performance: 7 trading days= -0.27% – 15 trading days= +0.74% – 30 trading days= -1.36%

Resistance levels: R1= 164.08 – R2= 164.42 – R3= 165.22
Pivot Point: 163.62
Support levels: S1= 163.28 – S2= 162.82 – S3= 162.02


Buying opportunity above 163.89 targets minor resistance at 164.28 and perhaps as far as strong resistance at 164.42, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 165.08.

Selling opportunity below 163.56 targets minor support at 163.28 and perhaps as far as strong support at 162.82, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 162.38.