Bund: 138.80 Good Support For Short Term Buying Opportunity
CommodityOnline | Dec 06, 2013 07:13AM ET
Bund March Contract has little October data to go on as we retest these levels so we have to rely on December with a small adjustment. Immediate support is 139.45/40 but if this does not hold the downside look for 138.20/15 then 139.05/00 & may be as far as 138.85/75 for a buying opportunity.
Immediate resistance at 140.15/20 but above here 140.55/60 could hold a move higher again today. Only above 140.70 is more positive & targets 140.90/95 for a selling opportunity with stops above 141.10.
Weekly outlook: 100 day moving average at 140.65 should hold a move higher. 138.80 is good support for a short term buying opportunity.
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