Bund: Outlook Negative
Jason Sen | Apr 29, 2014 06:20AM ET
Bund made it to 144.40 but not as far as Friday's 144.48/51 high. We did then see some profit taking as expected towards support at 144.15/12, bottoming at 144.21. Look for a test of 144.15/12, then a buying opportunity at 143.92/97 and a good chance of a low for the day. Exit shorts and try longs with stops below 143.80. Below 143.76/74 adds pressure for a target of 143.58/54.
Immediate resistance at 144.28 could hold a move higher with the outlook more negative today. Above however meets yesterday's high at 144.40/43 before Friday's 144.48/51 high. A break higher looks unlikely but if seen we should struggle at April highs of 144.64. If however a break is seen look for 144.80/83.
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