Free Trial

(Z17) 162.33-162.25 Protects Against.....>

BUND TECHS
BUND TECHS: (Z17) 162.33-162.25 Protects Against Deeper Correction
*RES 4: 163.61 1% volatility band
*RES 3: 163.43 Sep 8 high
*RES 2: 163.11 6 week bull channel top projection
*RES 1: 162.78/83 Oct 17, Oct 31 highs
*PRICE: 162.47 @0926GMT                                   
*SUP 1: 162.25/33 Oct 30 low, hourly support
*SUP 2: 162.00 Oct 26 high, now support
*SUP 3: 161.63 Oct 27 low
*SUP 4: 161.24 Initial rally high Oct 26, now support
*COMMENTARY* Rally continued Tuesday, moving slightly above the Oct 17 high to
reach 162.83. Subsequently succumbing to some near term overbought conditions,
which see 162.33-162.25 as initial support. A hold above the latter is required,
in order to retain recent upside momentum and stave off a deeper correction of
recent gains from last week's 160.76 base. Directly above 162.83 and the 6 week
bull channel projection at 163.11 is then the bar to a 163.43-163.61 rise.

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.