6 Jun 2013
Flash: Bund pattern confirms bullish view – RBS
FXstreet.com (Barcelona) - Bund levels are updated for the September contract – the market formed a morning star candlestick pattern and closed above 100-day MA, confirming the bullish view.
According to Technical Strategist Dmytro Bondar at UBS, “A break of the 144.94 would be likely to trigger a rally to 144.30 onto 144.55 with a subsequent correction and further bounce to 145.06/45 resistance region. “
The risk level remains 142.95 (a sustained break would cancel the view). We keep longs from 143.25/35 to 144.55/63 onto 145.06/45. “In the long-term, as the 145.06/45 region is reached, I would favor selling amid cross- market signals from the treasury market. The risk level is 146.17.” Bondar adds.
According to Technical Strategist Dmytro Bondar at UBS, “A break of the 144.94 would be likely to trigger a rally to 144.30 onto 144.55 with a subsequent correction and further bounce to 145.06/45 resistance region. “
The risk level remains 142.95 (a sustained break would cancel the view). We keep longs from 143.25/35 to 144.55/63 onto 145.06/45. “In the long-term, as the 145.06/45 region is reached, I would favor selling amid cross- market signals from the treasury market. The risk level is 146.17.” Bondar adds.