19 Dec 2014
March Bund futures stalls at 155.45, upmoves may pause – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that Bund futures stalled at the 115.45 resistance, for the 3rd day, indicating a pause in the upmove.
Key Quotes
“Bund futures have stalled at 155.45 for the third day 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 153.26 and the 55 day ma at 152.39.”
“Above 155.45, our next band of resistance lies 156.20/81, this represents the top of the 2014 channel and Fibonacci extension.”
“The 55 day ma at 152.39 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 have stalled at 155.45 for the third day 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 153.26 and the 55 day ma at 152.39.”
“Above 155.45, our next band of resistance lies 156.20/81, this represents the top of the 2014 channel and Fibonacci extension.”
“The 55 day ma at 152.39 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.”