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Price Signal Summary - Pullback In Bunds Considered Corrective

OUTLOOK
  • In the FI space, Bund futures remain in an uptrend and the contract has traded to fresh highs this week to confirm a resumption of the bull cycle. The move higher maintains a price sequence of higher highs and higher lows. Furthermore, price has breached all retracement points of the Dec 7 - Jan 3 bear leg, reinforcing current bullish conditions. Sights are on 141.70 next, the Dec 13 high. On the downside, initial firm support is at 137.53, the Jan 16 low. The current pullback is considered corrective.
  • Gilt futures remain in an uptrend. The move higher this week confirms a resumption of the short-term uptrend and has resulted in a break of 105.20, the 76.4% retracement of the Nov 24 - Dec 28 bear leg. This paves the way for gains towards 107.06, the Nov 24 high and a key resistance. On the downside, initial firm support has been defined at 103.21, the Jan 17 low. A break would threaten the recent recovery.
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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