18 Dec 2014
March Bund futures stalled at 155.45 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank observes that March bund futures stalled at 155.45, with the charts suggesting a pause in the upmove here.
Key Quotes
“Bund futures maintain have stalled at 155.45 and the intraday chart suggests the upmove will pause here. Dips lower could extend towards 154/153.75, however key support is the 2014 uptrend at 153.19 and the 55 day ma at 152.31.”
“Above 155.45, our next band of resistance lies 156.20/74, this represents the top of the 2014 channel and Fibonacci extension.”
“The 55 day ma at 152.31 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 maintain have stalled at 155.45 and the intraday chart suggests the upmove will pause here. Dips lower could extend towards 154/153.75, however key support is the 2014 uptrend at 153.19 and the 55 day ma at 152.31.”
“Above 155.45, our next band of resistance lies 156.20/74, this represents the top of the 2014 channel and Fibonacci extension.”
“The 55 day ma at 152.31 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.”