Free Trial

(Z9) Attention Back On Channel Top.......>

BUND TECHS: (Z9) Attention Back On Channel Top
*RES 4: 172.82 High Oct 15
*RES 3: 172.03 High Oct 31 and key resistance
*RES 2: 171.79 Channel resistance drawn off the Sep 3 high
*RES 1: 171.56 High Nov 20
*PRICE: 171.22 @ 05:39 GMT Nov 25
*SUP 1: 170.31 Low Nov 22
*SUP 2: 169.67 Low Nov 13
*SUP 3: 169.12 Low Nov 8 and bear trigger
*SUP 4: 168.50 1.382 projection of Sep 3 - Sep 13 decline from Sep 25 high
Z9 Bund rebounded Friday. In order to signal potential for a stronger recovery
though, prices need to clear 171.56, Nov 20 high and more importantly 171.70,
the bear channel resistance drawn off the Sep 3 high. Clearance of this
resistance zone would signal a reversal. Note, two bearish candle patterns were
confirmed last week, a shooting star Wednesday and bearish engulfing reversal
Thursday. A move below Friday's 170.31 low would be bearish.

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.