Bund bottomed exactly at immediate support of 149.10/05 as expected and rocketed to retest Friday's all time high at 149.84. We topped almost exactly here and of course if this level holds today we have a potential negative double top formation. However any shorts need stops above 149.95. A break higher never out of the question in this bull trend and would target 150.05 then 150.18/19. Above we could reach 150.31/34.
Failure to beat 149.95 leaves a negative double top pattern in a severely overbought market. First downside target is 149.68/66 then 149.56. If prices continue lower look for excellent short term support at 149.40/36 and a good chance of a low for the day here. However longs need stops below 149.20.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.