Bunds:
Another day of strength was posted yesterday reaching 138.54. We are going to be seeing some strong resistance now from 138.91 to 139.19 and we would view to start liquidating longs to these higher levels.
We would see the market come back from this point and currently there does not seem enough momentum to push forward and break the 139.19 previous highs. It is safer therefore to wait until we have corrected some of these rallies before we can at east make a concerted effort to bust this 139.19 top. If we can do this and stay above 139.24 there is not a lot of resistance then until the 139.57/139.64 band..
Support from current levels is at 137.83. A loss through this support will keep the immediate bias to the downside, leaving 137.20/17 then targeted.
Another day of strength was posted yesterday reaching 138.54. We are going to be seeing some strong resistance now from 138.91 to 139.19 and we would view to start liquidating longs to these higher levels.
We would see the market come back from this point and currently there does not seem enough momentum to push forward and break the 139.19 previous highs. It is safer therefore to wait until we have corrected some of these rallies before we can at east make a concerted effort to bust this 139.19 top. If we can do this and stay above 139.24 there is not a lot of resistance then until the 139.57/139.64 band..
Support from current levels is at 137.83. A loss through this support will keep the immediate bias to the downside, leaving 137.20/17 then targeted.