Free Trial

(U9) Strong impulsive rally confirms.....>

BUND TECHS
BUND TECHS: (U9) Strong impulsive rally confirms resumption of bull trend
*RES 4: 173.75 wave equality of May 3 - May 15 rally off Jun 11 low
*RES 3: 173.00 Round number resistance
*RES 2: 173.12 1.618 Fibonacci projection of 166.95-169.75 from 168.59
*RES 1: 172.88 U9 contract high Jun 18
*PRICE: 171.60 @ 04:30 GMT June 19
*SUP 1: 171.42 Low Jun 17 and initial key support
*SUP 2: 170.98 Low Jun 11
*SUP 3: 170.64 Low Jun 6
*SUP 4: 170.14 Trendline support drawn off the Apr 17 low
U9 Bund climbed sharply higher yesterday thanks to comments from Draghi.
Fundamentals and technicals are now strongly aligned and this highlights a firm
bull trend condition. Momentum is overbought and the threat of bearish
divergence remains evident. This however is not seen as a threat to bulls at
this stage. Key support lies at 171.42, the Jun 17-low. In Japanese candlestick
terms, yesterday's pattern is a standard line. This is a continuation pattern.

To read the full story

Close

Why MNI

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.