Bund Approaches All Time Highs
Jason Sen | May 29, 2014 03:45AM ET
Bund beat May highs at 146.75 and 146.87/89 as we approach all time highs at 147.20. This level speaks for itself. A daily close above here and in particular a weekly close above on Friday would open the door to further gains with the first target being 147.36/39 then longer term trend line resistance at 147.49/56. A good chance of a high for the week here. Only a daily close above 147.64/67 keeps the market outlook positive for 147.75 and 147.92/97.
146.75 is the obvious first support today but below here we could bottom at 146.55. However if prices continue lower look for a buying opportunity at 146.38/30, with stops below 146.20. Next target and buying opportunity then seen at 145.90/85 this week.
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