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7 Jan 2015
March Bund futures approaching the top of the channel at 157.42 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that bund futures have continued its upward climb towards the top at 157.42 levels, and expects it to move to 157.80 levels.
Key Quotes
“Bund futures have maintained upside pressure and remain on course the 157.42 top of the 2014-2015 up channel, however we will allow for a move to the 157.80 point and figure target taken from the 240 minute chart.”
“The very accelerated uptrend offering support at 156.09 maintains immediate upside pressure.”
“Key support remains the 153.87 2014-2015 uptrend – while this is intact the bull trend remains intact. We notice the slight divergence on intraday RSI on the 60 minute chart and would allow for a minor retracement to 156.57/20 ahead of further gains.”
Key Quotes
“Bund futures have maintained upside pressure and remain on course the 157.42 top of the 2014-2015 up channel, however we will allow for a move to the 157.80 point and figure target taken from the 240 minute chart.”
“The very accelerated uptrend offering support at 156.09 maintains immediate upside pressure.”
“Key support remains the 153.87 2014-2015 uptrend – while this is intact the bull trend remains intact. We notice the slight divergence on intraday RSI on the 60 minute chart and would allow for a minor retracement to 156.57/20 ahead of further gains.”