Bund Future Resilience Points To Upside Extension
Steve Miley | Aug 27, 2014 02:49AM ET
Bund future bias above 151.09 for 151.18 and targets at 151.36, maybe 151.76
We stated in our last client report that “for Tuesday, we see digestion between 150.40 and 151.09” and the high level consolidation above modest support at 150.69 leaves upside risks intact for this week.
The new all-time high on Monday signalled a rejection of a potential top and leaves upside risks into month-end.
We still see bias for 151.18 and targets at 151.36 and maybe even 151.76.
The 8-day RSI, short-term momentum is positive, but not OB, leaving scope to go still higher this week.
WHAT CHANGES THIS?
Below 150.40 eases bull risks; through 150.10 signals a neutral tone, only shifting negative below 149.79.
Please see full report with levels and latest audio-visual analysis here :
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