Free Trial

(M18) Bull Channel Base Confirms.........>

BUND TECHS: (M18) Bull Channel Base Confirms Significance
*RES 4: 160.26 Low Dec 13 now resistance
*RES 3: 160.00 Bollinger band top
*RES 2: 159.69 High Mar 28
*RES 1: 159.37 High Apr 13
*SUP 1: 158.74 Low Apr 16, Bull channel base off Feb 15 Low
*SUP 2: 158.53 Hourly resistance Mar 22 now support
*SUP 3: 158.35 High Mar 16 now support
*SUP 4: 158.19 100-DMA
*COMMENTARY: Bears failed to capitalise on the break of 158.89 with the contract
bouncing ahead of the daily bull channel base off Feb 15 lows. Bulls now need a
close above 159.37 to gain breathing room and above 159.69 to reconfirm focus on
160.26-98 with the bull channel top at 160.81. Bears now look for a close below
158.17 to shift immediate focus to 157.31-67 and below the 55-DMA (157.31) to
initially target 156.22. Daily studies have returned to more neutral levels.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.