17 Dec 2014
March Bund futures’ next band of resistance at 156.20/66 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that the next resistance for March bund futures lies at 156.20/66, as it continues moving higher after breaking the 154.80/90 resistance.
Key Quotes
“Bund futures continue to surge higher. Having taken out the 154.80/90 resistance, our next band of resistance lies 156.20/66, this represents the top of the 2014 channel and Fibonacci extension.”
“Slippages should find initial support at 154.80 then 153.75 ahead of trendline support at 153.11.”
“The 55 day ma at 152.25 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.”
“Shorter term (1-3 weeks): Strong rebound off the uptrend reasserts upside pressure.”
Key Quotes
“Bund futures continue to surge higher. Having taken out the 154.80/90 resistance, our next band of resistance lies 156.20/66, this represents the top of the 2014 channel and Fibonacci extension.”
“Slippages should find initial support at 154.80 then 153.75 ahead of trendline support at 153.11.”
“The 55 day ma at 152.25 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.”
“Shorter term (1-3 weeks): Strong rebound off the uptrend reasserts upside pressure.”