Bund: Negative Outlook Below 100DMA
Jason Sen | Dec 19, 2013 05:17AM ET
Bund held 140.45/50 resistance again and spiked lower to support at 139.80/75. We bottomed almost exactly here at 139.69 and returned to the recent range of 140.05/00 to 140.45/50. Only above 140.60 is more positive and can target 140.90/00. A high for the day is likely but if we continue higher look for a selling opportunity at 141.23/28.
Support at 140.05/00 but any longs here today need stops below 139.90 for support at 139.75/70. If we continue lower look for a possible retest of 139.55/45 lows.
Weekly outlook is negative as long as we hold below the 100 day moving average at 140.45/50. Good support at 139.00/75 but below 139.40 risks a slide to 138.80.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.