6 Jan 2015
March Bund futures bid above the 155.88 accelerated uptrend – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that March bund futures have accelerated above 155.88 levels, further suggesting that the bull trend remains intact as long as bunds hold above the 153.80 support.
Key Quotes
“Bund futures have maintained upside pressure and remain on course the 157.35 top of the 2014-2015 up channel, however we will allow for a move to the 157.80 point and figure target taken from the 240 minute chart. We have 157.00 as an initial target (point and figure target from daily chart and Elliott).”
“We have a very accelerated uptrend offering support at 155.88 however key support remains the 153.80 2014-2015 uptrend – while this is intact the bull trend remains intact. We notice the 13 count on the 60 minute chart and would allow for a minor retracement to 156.10/155.88 ahead of further gains.”
Key Quotes
“Bund futures have maintained upside pressure and remain on course the 157.35 top of the 2014-2015 up channel, however we will allow for a move to the 157.80 point and figure target taken from the 240 minute chart. We have 157.00 as an initial target (point and figure target from daily chart and Elliott).”
“We have a very accelerated uptrend offering support at 155.88 however key support remains the 153.80 2014-2015 uptrend – while this is intact the bull trend remains intact. We notice the 13 count on the 60 minute chart and would allow for a minor retracement to 156.10/155.88 ahead of further gains.”