Bund continued lower to test November lows & Fibonacci support at 140.56/53 which held the downside for most of the afternoon as expected but eventually we broke lower in the evening.
A break of yesterday's low at 140.26 targets very good support at 140.15 & being oversold short term a good chance of a low for the day. Exit shorts & try longs with stops below 139.90.
A break below 139.80 then adds pressure & could target 139.55, possibly 139.45 which should hold the downside.
Immediate resistance at 140.55/65 could hold a move higher but above 140.70 is more positive & targets 140.90/95 for a selling opportunity with stops above 141.10.
Weekly outlook: September highs, Fibonacci & 100 DMA support at 141.00/140.90 a good buying opportunity this week but below 140.50 keeps the market under pressure for 140.15/10.
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Bund : Both Buying And Selling Opportunities
Published 12/05/2013, 06:38 AM
Updated 05/14/2017, 06:45 AM
Bund : Both Buying And Selling Opportunities
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