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Technical Forecast for Bund

Technical Forecast for Bund


Bund continued lower as predicted to good Fibonacci support at 141.65/60 & we looked for a low for the day, advising to exit shorts & try longs. We did bottom almost exactly here in fact at 141.67. The bounce hit resistance at 142.76/82 which did hold the topside as predicted but be ready to go with a break higher today for 143.00/04 possibly as far as 143.26/32 for a selling opportunity.  Exit longs & try shorts with stops above 143.45 for the next target & resistance of the 200 day moving average at 143.55/60.


Immediate support is 142.69/66 so below here risks a slide to 142.25. Stops on longs below 142.15 as a break lower could test 141.82 before last week’s low at 141.67. Use a move here as a buying opportunity down to 141.60 with stops below 141.45.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Bonds Technicals Markets Trading Ideas


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