20 Jan 2015
Bund futures could test 158.11 – Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Bund futures could re-visit the low-158.00s.
Key Quotes
“Bund futures continue to inch slowly higher and a retest of the top of its 2014-2015 channel looks likely – this is located at 158.11 today and so far has held the topside – ideally we would like to see failure here but will need a close below 157.16 at the very minimum to alleviate immediate upside pressure”.
“Above the market is the top of the channel at 158.11 then we have an additional target of 158.40/77. This is a Fibonacci extension and the top of a second channel”.
Key Quotes
“Bund futures continue to inch slowly higher and a retest of the top of its 2014-2015 channel looks likely – this is located at 158.11 today and so far has held the topside – ideally we would like to see failure here but will need a close below 157.16 at the very minimum to alleviate immediate upside pressure”.
“Above the market is the top of the channel at 158.11 then we have an additional target of 158.40/77. This is a Fibonacci extension and the top of a second channel”.