Euro Bund future: expected drops towards the most significant support levels

Friday Euro Bund future trading session was characterized by a gap down at the open. Expected drops towards the most significant support levels.

Friday Euro Bund future close was at 164.87 (-0.35%). The trading session was characterized by a gap down at the open and an higher close. The short term view leaves assume a price movements between support and resistance levels. Many leading oscillators confirm the short term bullish trend.
Euro Bund Future drops

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 164.40). The short term view is therefore bullish, however for today trading session we can’t exclude drops 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: 17/06/2016.

Performance: 7 trading days= +0.19% – 15 trading days= +0.75% – 30 trading days= +0.50%

Resistance levels: R1= 165.21 – R2= 165.54 – R3= 166.13
Pivot Point: 164.95
Support levels: S1= 164.62 – S2= 164.36 – S3= 163.77


Buying opportunity above 165.02 targets minor resistance at 165.41 and perhaps as far as strong resistance at 165.68, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 166.22.

Selling opportunity below 164.69 targets minor support at 164.31 and perhaps as far as strong support at 164.05, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 163.50.