Bund : Forecast October 28, 2014
Jason Sen | Oct 28, 2014 02:32AM ET
Bund trading sideways as we unwind an overbought stochastic but we now look ready to head higher. Same levels apply for today with support at 150.27/23 then last week's low at 150.10/05. This held again yesterday but any longs today need stops below 149.95. A break lower today targets 149.80/75 then good support at 149.50/45. Try longs with stops below 149.30.
Holding above support at 150.27/23 is positive but today's main challenge is resistance at 150.60/65. We topped almost exactly here yesterday as expected but a better chance of a break higher today. Shorts therefore need stops above 150.75. Be ready to go with a break higher towards 150.95/151.00. A break above 151.12 then required to keep the outlook positive & target 151.28/33.
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.