Bund : Both Buying And Selling Opportunities
CommodityOnline | Dec 05, 2013 06:38AM ET
Bund continued lower to test November lows & Fibonacci support at 140.56/53 which held the downside for most of the afternoon as expected but eventually we broke lower in the evening.
A break of yesterday's low at 140.26 targets very good support at 140.15 & being oversold short term a good chance of a low for the day. Exit shorts & try longs with stops below 139.90.
A break below 139.80 then adds pressure & could target 139.55, possibly 139.45 which should hold the downside.
Immediate resistance at 140.55/65 could hold a move higher but above 140.70 is more positive & targets 140.90/95 for a selling opportunity with stops above 141.10.
Weekly outlook: September highs, Fibonacci & 100 DMA support at 141.00/140.90 a good buying opportunity this week but below 140.50 keeps the market under pressure for 140.15/10.
Get The News You Want
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.