12 Dec 2014
March Bund futures target 154.80/90 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that the March Bund futures are approaching a tough resistance at 154.80/90, and anticipates it to struggle at those levels for a couple of days.
Key Quotes
“Bund futures have charted a contact high at 154.33, this has not been confirmed by the daily RSI. We are approaching tougher resistance at 154.80/90 and we suspect we will struggle today and tomorrow. Slippages should be contained by its uptrend and 55 day ma. The trendline today is located at 152.88. Initial support is the 153.74 28th November high.”
“The 55 day ma at 152.00 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 have charted a contact high at 154.33, this has not been confirmed by the daily RSI. We are approaching tougher resistance at 154.80/90 and we suspect we will struggle today and tomorrow. Slippages should be contained by its uptrend and 55 day ma. The trendline today is located at 152.88. Initial support is the 153.74 28th November high.”
“The 55 day ma at 152.00 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.”