Bund contract likely to stage new rebounds towards 165.40-165.47 - Natixis

Micaella Feldstein, Research Analyst at Natixis suggests that given that an ascending channel remains in evidence in the daily chart of Bund and that weekly indicators are still bullish, it is likely the contract will stage new rebounds towards 165.40-165.47 (descending resistance trendline).

Key quotes

“A breakout above these resistance levels remains crucial to envisage a more pronounced rise towards 165.93-166 (Fibonacci projections) before the resistance at 166.43 (upper band of daily Bollinger). Supports are located around 164.88-164.94, around 164-164.15, at 163.42 and at 163.”

“Contract set to test 165.40-165.47. A breakout above these resistance levels will be crucial to envisage an acceleration of the uptrend towards 165.93-166 before 166.43.”