Bund: Pullback below the support around 160.38-160.50 is unlikely - Natixis

Given that the daily stochastic remains upbeat, that daily volatility has stabilised and that the weekly stochastic is nearing oversold territory, a pullback below the support around 160.38-160.50 (ascending support trendline) is unlikely, according to Micaella Feldstein, Research Analyst at Natixis.  

Key Quotes

“Watch out rather for rebounds towards 161.80-161.88 (daily parabolic). A breakout above these levels would undermine the downward bias in the daily chart, pointing to a more pronounced rebound towards 162.36-162.45 (daily Bollinger moving average) before 162.93-163 (50-week moving average) and 163.39 (monthly Bollinger moving average).  Supports are located around 160.38-160.50, at 160, at 159.51 and at 159.14.”