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Bund: Outlook Is Negative

Published 02/10/2014, 04:56 AM
Updated 07/09/2023, 06:31 AM

Bund Weekly Chart

Bund held support at 143.40/35 and recovered as predicted as far as 144.05/10 for our selling opportunity. We topped almost exactly here and should struggle here again today. However, be aware that a break above 144.20 cannot be ruled out and targets 144.30, possibly even a retest of 144.54/58 highs last week for an excellent selling opportunity this week. A double top is expected but shorts need stops above 144.70.

Immediate support is 143.60/55 but below here risks a retest of 143.32/27 lows last week. The daily chart outlook is more negative so a break today meets good support at 143.18/14 and a bounce from here very likely but longs need stops below 142.95. A break lower however targets 142.65/60 then a buying opportunity at 142.35/30 this week.

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