Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Bund: Don't Fight The BullTrend

Published 05/30/2014, 01:59 AM
Updated 07/09/2023, 06:31 AM

Bund Chart

The Bund is holding below its all time highs at 147.20. The close below 146.75 adds pressure for today and could test support at 146.57/55. A bounce from here is certainly possible on the first test at least, but below 146.40 keeps the market under pressure for a buying opportunity at 146.27/22. A low for the day is expected but longs need stops below trend line support at 146.00.

It is not wise to fight the bull trend and above 146.80 could see a retest of the high this week at 147.08/12 before seeing all time highs at 147.20. This level speaks for itself. A weekly close above last night's close would open the door to further gains next week with the first target being 147.36/39 then longer term trend line resistance at 147.49/56. Just beware of levels above 147.64/67 then 147.75 and 147.92/97.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.