Technical Forecast for Bund
Bund September hit excellent support at 136.45/41 for a buying opportunity & bottomed exactly here. We rallied off an oversold position but rocketed way higher than expected to 137.81. This left a bullish key day reversal in place which in theory marks the end of the bear trend at this stage, as long as we hold above 136.40. Today any profit taking sees 137.40 but below 137.30 risks a slide to 137.03. Exit shorts & try longs looking for a low for the day but be aware than a break lower risks further losses to 136.73/65.
Resistance at 107.70/75 but be ready to go with a break above 137.81 for 137.97/98 & a high for the day expected. Exit longs & try shorts with stops above 138.10.
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