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8 Jan 2015
March Bund futures stalling ahead of the top of the channel at 157.50 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that Bund futures falter against the strong resistance at 157.50, further adding that the uptrend support at 156.09 maintains the upside pressure for Bunds.
Key Quotes
“Bund futures are starting to falter as they approach tougher resistance offered by the 157.50 top of the 2014-2015 up channel and the 157.80 point and figure target taken from the 240 minute chart. The very accelerated uptrend offers support at 156.09 maintains immediate upside pressure. To alleviate this a close below here is required.”
“Key support remains the 153.95 2014-2015 uptrend – while this is intact the overall bull trend remains intact and preferably we would also like to see a close below the 153.15 55 day ma and only a close below these two levels will negate the bull move.”
Key Quotes
“Bund futures are starting to falter as they approach tougher resistance offered by the 157.50 top of the 2014-2015 up channel and the 157.80 point and figure target taken from the 240 minute chart. The very accelerated uptrend offers support at 156.09 maintains immediate upside pressure. To alleviate this a close below here is required.”
“Key support remains the 153.95 2014-2015 uptrend – while this is intact the overall bull trend remains intact and preferably we would also like to see a close below the 153.15 55 day ma and only a close below these two levels will negate the bull move.”