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Free Access(Z17) Immediate Focus On Channel Top.....>
BUND TECHS: (Z17) Immediate Focus On Channel Top
*RES 4: 164.50 Low June 8 now resistance
*RES 3: 163.89 Low June 1 now resistance
*RES 2: 163.21 Daily Bull channel top A
*RES 1: 162.93 High Aug Sept 5
*PREVIOUS CLOSE: 162.87
*SUP 1: 162.71 Hourly resistance Sept 5 now support
*SUP 2: 162.47 Hourly resistance Sept 5a now support
*SUP 3: 161.96 Low Sept 5
*SUP 4: 161.66 Low Sept 1
*COMMENTARY: The rally Tuesday sees bulls regain the upper hand and reconfirm a
bullish bias with initial focus on the daily bull channel top. A close above
then targets 163.89-164.50. The Bollinger top (162.84) is the key concern for
bulls and currently limits follow through. Layers of support are building. Bears
now need a close below 162.47 to ease bullish pressure and below 161.66 to end
bullish hopes and shift focus back to 160.30-50 where 55 & 100-DMAs are noted.
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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.