12 Feb 2015
Bunds may a sell-off towards 157.83 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, views Bunds might fail at 159.00 levels and move lower towards 157.83.
Key Quotes
“Bund futures will remain offered very near term while trading below the 159.19 near term pivot (recent high was 159.54).”
“The market is easing slowly back from the top of its 7 year channel – this now lies at 159.96 for February and the top of its short term channel is at 160.65.”
“My intraday charts are suggesting that we will see failure circa 159.00 for a sell off to Initial support which lies at 157.83, the base of a short term channel.”
“We suspect that this will hold the downside and we would be tempted back into longs at this stage.”
“Key support remains the 156.01/155.87 2014-2015 uptrend and 55 day ma – a close below here will be needed to negate the long term bull move.”
Key Quotes
“Bund futures will remain offered very near term while trading below the 159.19 near term pivot (recent high was 159.54).”
“The market is easing slowly back from the top of its 7 year channel – this now lies at 159.96 for February and the top of its short term channel is at 160.65.”
“My intraday charts are suggesting that we will see failure circa 159.00 for a sell off to Initial support which lies at 157.83, the base of a short term channel.”
“We suspect that this will hold the downside and we would be tempted back into longs at this stage.”
“Key support remains the 156.01/155.87 2014-2015 uptrend and 55 day ma – a close below here will be needed to negate the long term bull move.”