10 Mar 2015
Bunds might re-test 157.77 – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that with bunds rebounding from the 156.00/155.80 support, there is scope for a re-test of the recent high at 157.77.
Key Quotes
“The Bund June contract saw a strong rebound from key support at 156.00/155.80. We should see allow for a re-challenge of the 157.77 recent high.”
“We would also highlight that there is a large rollover gap to 158.06 that we would expect to be filled.”
“Referring to the equalised daily continuation chart. The 2 major supports on this chart are the 55 day ma at 155.64 and the 2014-2015 uptrend at 155.03. These are the major supports which must hold for the bull trend to remain intact.”
“Initial resistance lies 157.36/37 ahead of the 157.77 recent high.”
Key Quotes
“The Bund June contract saw a strong rebound from key support at 156.00/155.80. We should see allow for a re-challenge of the 157.77 recent high.”
“We would also highlight that there is a large rollover gap to 158.06 that we would expect to be filled.”
“Referring to the equalised daily continuation chart. The 2 major supports on this chart are the 55 day ma at 155.64 and the 2014-2015 uptrend at 155.03. These are the major supports which must hold for the bull trend to remain intact.”
“Initial resistance lies 157.36/37 ahead of the 157.77 recent high.”