13 Feb 2015
Bunds focus shifts towards 159.96– Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that bunds might remain bid above 157.95, with focus now shifting to the topside near 159.96.
Key Quotes
“Bund futures have started to erode the 159.19 near term pivot and In doing so retargets the recent high at 159.54 and then the top of its 7 year channel – this now lies at 159.96.”
“The top of its short term channel is at 160.77. The market is bid above 157.95, the base of a short term channel. Key support remains the 156.13/155.95 2014-2015 uptrend and 55 day ma – a close below here will be needed to negate the long term bull move.”
“Above 160.77 lie the point and figure targets on the 60 and 240 minute charts at 163.40/80 and a Fibonacci extension at 163.87.”
Key Quotes
“Bund futures have started to erode the 159.19 near term pivot and In doing so retargets the recent high at 159.54 and then the top of its 7 year channel – this now lies at 159.96.”
“The top of its short term channel is at 160.77. The market is bid above 157.95, the base of a short term channel. Key support remains the 156.13/155.95 2014-2015 uptrend and 55 day ma – a close below here will be needed to negate the long term bull move.”
“Above 160.77 lie the point and figure targets on the 60 and 240 minute charts at 163.40/80 and a Fibonacci extension at 163.87.”