25 Feb 2015
Bunds upside bias above 152.23/18 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, explains that Bunds remains bid whilst above the support at 158.23/18, currently trapped in the 158.18-159.54 range.
Key Quotes
“Bund futures have held several tests of the 158.23/18 support and while above here an upside bias will remain entrenched.”
“Essentially the market is side lined within a 158.18-159.54 range and we wait for a break out to determine direction. Above the 159.54 recent high will see a move to the top of its 7 year channel at 159.96.”
“Above the 7 year channel at 159.96 we have 160.90 – the measurement higher of the range 159.45-158.18.”
“A close below 158.18 on the other hand will act as the break down point to key support, which remains 156.73/156.40, the 2014-2015 uptrend and 55 day ma. A close below here will be needed to negate the long term bull move (this is not favoured at this stage).”
Key Quotes
“Bund futures have held several tests of the 158.23/18 support and while above here an upside bias will remain entrenched.”
“Essentially the market is side lined within a 158.18-159.54 range and we wait for a break out to determine direction. Above the 159.54 recent high will see a move to the top of its 7 year channel at 159.96.”
“Above the 7 year channel at 159.96 we have 160.90 – the measurement higher of the range 159.45-158.18.”
“A close below 158.18 on the other hand will act as the break down point to key support, which remains 156.73/156.40, the 2014-2015 uptrend and 55 day ma. A close below here will be needed to negate the long term bull move (this is not favoured at this stage).”