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German Bunds: Instigate shorts on rallies, keeping stops then above 138.91

ByCarol Harmer
Published 11/15/2011, 08:50 AM
Updated 07/09/2023, 06:32 AM
Bunds:

Bunds bounced from 137.03 and closed towards the session highs.. However we are looing slightly overbought on the 60 min chart and for this reason we should be able to see short term weakness today early in the session.

You can see medium term charts are also overbought...so this is quite a good reason to sell into any strength that is evident this morning..138.61/70 offers such resistance and from here we look for the market to fail. Instigate shorts on rallies, keeping stops then above 138.91.

The area of support that should entice once more is the 137.05/00 region. We look
to cover shorts in this band. Attempt longs, but do not hold longs if we lose 137.00.
Below here would weaken the market further with 136.42 then targeted.

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