Bund: Price Action Positive For Short Term
CommodityOnline | Jan 03, 2014 05:39AM ET
Bund gapped lower to our buying opportunity at 138.69 & saw a low for the day as predicted. A good rally took prices back towards resistance at 139.25.
Price action is now positive short term & we could continue higher today to the next target of 139.43/44, possibly as far as resistance at 139.50/54. A high for the day expected but shorts need stops above the gap at 139.66.
However we then run in to trend line resistance at 139.75/80 for a selling opportunity. Below 139.04/02 is less positive & targets 138.83 before a buying opportunity at 138.76/69 once again. However a break below 138.66 keeps the market under pressure & can target 138.47/44.
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