In the last trading week, the Bund future formed a clean downward trend. This downward trend is easily visible in the hourly chart, and one can also see that on Friday evening, the Bund began a bottom formation that gained further significance with the higher market opening on Monday.
At the moment, it looks as though the Bund has a good chance of breaking out of the downward trend channel in an upwards direction during the beginning of the week.
If the daily high from Friday is exceeded, this would end the downward trend in the hourly chart once and for all, and the way would be free for a renewed testing of the last high in the region of 168.00.
In the daily chart a triangle has currently formed. At the moment, in terms of price, the Bund future is in the lower area of the triangle, and a renewed testing of the support levels at approx. 165.50 cannot be ruled out either. But I am more inclined to assume that the Bund will now run up to the upper area of the triangle, currently at 167.40.
If it surpasses the last high at 168.13, despite already negative interest rates, this could even actually lead once more to new all-time highs in the ten-year government bonds.
It remains exciting, therefore, in the Bund future!
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