9 Dec 2014
March Bund futures make a strong rebound – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that March Bund futures made a strong rebound from the previous breach at trendline support, reasserting the upmove.
Key Quotes
“Bund futures minor breach of trendline support was not sustained – we have redrawn this trendline and this is located at 152.65. Given the robust rebound from the uptrend we can only assume that the up move is reasserting and would recommend re-entering long positions.”
“Immediate resistance is the 153.86 contract high. This is the break up point to 154.80/90. The 55 day ma at 151.77 offers additional support as this has under pinned the entire move up this year and in order to confirm that the market has topped we will need to see a close below here.”
Key Quotes
“Bund futures minor breach of trendline support was not sustained – we have redrawn this trendline and this is located at 152.65. Given the robust rebound from the uptrend we can only assume that the up move is reasserting and would recommend re-entering long positions.”
“Immediate resistance is the 153.86 contract high. This is the break up point to 154.80/90. The 55 day ma at 151.77 offers additional support as this has under pinned the entire move up this year and in order to confirm that the market has topped we will need to see a close below here.”