12 Jan 2015
March Bund futures erodes the accelerated uptrend – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, shares that bunds have eroded the accelerated uptrend and the market is starting to look vulnerable, with attention now turning to the support at 156.13/08.
Key Quotes
“Bund futures have severed its accelerated uptrend and we start this week with attention on nearby support offered at 156.13/08 – failure here will trigger losses to the 155.44/45 support (38.2% retracement up from December and the mid December high).”
“Failure at 155.45 should be enough for a slide back to the 154.10 2014-2015 uptrend – a close below here and below the 153.32 55 day ma will be needed to negate the long term bull move. Intraday rallies are indicated to remain capped by the 156.65 zone.”
Key Quotes
“Bund futures have severed its accelerated uptrend and we start this week with attention on nearby support offered at 156.13/08 – failure here will trigger losses to the 155.44/45 support (38.2% retracement up from December and the mid December high).”
“Failure at 155.45 should be enough for a slide back to the 154.10 2014-2015 uptrend – a close below here and below the 153.32 55 day ma will be needed to negate the long term bull move. Intraday rallies are indicated to remain capped by the 156.65 zone.”