20 Mar 2015
Bunds: upside bias intact – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that the correction for June bund contract might have ended and now the focus remains on the upside towards 160.02.
Key Quotes
“The Bund June contract held sideways leaving our outlook unchanged.”
“We consider that the correction lower terminated at 157.46 and the uptrend has resumed. This leaves the focus back on the top of the channel at currently 160.02.”
“The previous high (on the March contract) was 160.00 and the top of the 7 year channel lies at 160.39 and remains the target.”
“Referring to the equalised daily continuation chart. The 2 major supports on this chart are the 55 day ma at 156.39 and the 2014-2015 uptrend at 155.65. These are the major supports which must hold for the bull trend to remain intact.”
Key Quotes
“The Bund June contract held sideways leaving our outlook unchanged.”
“We consider that the correction lower terminated at 157.46 and the uptrend has resumed. This leaves the focus back on the top of the channel at currently 160.02.”
“The previous high (on the March contract) was 160.00 and the top of the 7 year channel lies at 160.39 and remains the target.”
“Referring to the equalised daily continuation chart. The 2 major supports on this chart are the 55 day ma at 156.39 and the 2014-2015 uptrend at 155.65. These are the major supports which must hold for the bull trend to remain intact.”