Bund: Break Lower Targets 160.44/41
Jason Sen | May 25, 2017 03:15AM ET
Bund holding the below first resistance at 161.00/160.95 targets minor support at 160.80/76 (we closed just below here) then 160.60/55 (also yesterday's low). A break lower today targets 160.44/41 with a very small gap here so a break lower risks a slide to 2 month trend line support at 160.34/32. Further losses target 160.17 (last week's low) before the May low at 160.00.
Above 161.05 allows a recovery to minor resistance at 161.20/25 before strong resistance at 161.50/54. We should struggle here again but above 161.60 re-targets resistance at 161.95/162.00....which held so perfectly last week. A break above 3 week highs at 162.15 is obviously positive again this week targeting quite strong resistance at 162.45/50 for profit taking on all longs.
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