22 Jan 2015
Bund futures fail at the top of its channel – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, comments that bunds have failed at the top of its channel at 158.26, and adds that it is expected to hold the initial support at 156.13/10 in the short term.
Key Quotes
“Bund futures have failed at the top of its 2014-2015 channel – this is located at 158.26 today.“
“The erosion of the short term uptrend at 157.31 suggests near term risks have shifted to the downside.”
“Initial support lies at 156.13/10 and failure here is needed to trigger losses to the 155.48 support (the mid December high) en route to the 154.71 2014-2015 uptrend – a close below here and below the 154.20 55 day ma will be needed to negate the long term bull move.”
“Above the market is the recent high at 157.97 and the top of the channel at 158.19.”
“Shorter term (1-3 weeks): holding initial support at 156.13/10.”
“Medium term (1-3 months): Uptrend and 55 day ma maintains bull trend.”
Key Quotes
“Bund futures have failed at the top of its 2014-2015 channel – this is located at 158.26 today.“
“The erosion of the short term uptrend at 157.31 suggests near term risks have shifted to the downside.”
“Initial support lies at 156.13/10 and failure here is needed to trigger losses to the 155.48 support (the mid December high) en route to the 154.71 2014-2015 uptrend – a close below here and below the 154.20 55 day ma will be needed to negate the long term bull move.”
“Above the market is the recent high at 157.97 and the top of the channel at 158.19.”
“Shorter term (1-3 weeks): holding initial support at 156.13/10.”
“Medium term (1-3 months): Uptrend and 55 day ma maintains bull trend.”