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5 Jan 2015
March Bund futures bid above the 155.58 accelerated uptrend – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that bund futures have an accelerated uptrend with support at 155.68, further anticipating the bull trend to remain intact as long as the key support at 153.72 holds.
Key Quotes
“Bund futures have reached 156.20/25, the Fibonacci extension and extended beyond here. Above here lies the 157.27 top of the 2014-2015 up channel, however we will allow for a move to the 157.85 point and figure target taken from the 240 minute chart.”
“We have a very accelerated uptrend offering support at 155.68 however key support remains the 153.72 2014-2015 uptrend – while this is intact the bull trend remains intact. We notice the 13 count on the 60 minute chart and would allow for a minor retracement to 156.10/155.58 ahead of further gains.”
Key Quotes
“Bund futures have reached 156.20/25, the Fibonacci extension and extended beyond here. Above here lies the 157.27 top of the 2014-2015 up channel, however we will allow for a move to the 157.85 point and figure target taken from the 240 minute chart.”
“We have a very accelerated uptrend offering support at 155.68 however key support remains the 153.72 2014-2015 uptrend – while this is intact the bull trend remains intact. We notice the 13 count on the 60 minute chart and would allow for a minor retracement to 156.10/155.58 ahead of further gains.”