Bund: Broke 139.70/65 Support
Jason Sen | Dec 30, 2013 05:10AM ET
Bund broke 139.70/65 support, tumbled further than expected towards the October low of 138.79. We bottomed just above at 138.83 so watch to 138.83/76 area closely. We are very oversold short term so a low for the day is possible again in this area. However a break below 138.66 keeps the market under pressure can target 138.47/44. If this fails to hold the downside we could fall as far as 138.16/13. Any longs here need stops below 138.00.
Immediate resistance at 139.25 could hold a move higher. However if we continue higher we should struggle at 139.43/44. Above here look for a selling opportunity at 139.63/66 with stops above 139.76.
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