Bund contract likely to stage new rebounds towards 165.40-165.47 - Natixis
|Micaella Feldstein, Research Analyst at Natixis suggests that given that an ascending channel remains in evidence in the daily chart of Bund and that weekly indicators are still bullish, it is likely the contract will stage new rebounds towards 165.40-165.47 (descending resistance trendline).
Key quotes
“A breakout above these resistance levels remains crucial to envisage a more pronounced rise towards 165.93-166 (Fibonacci projections) before the resistance at 166.43 (upper band of daily Bollinger). Supports are located around 164.88-164.94, around 164-164.15, at 163.42 and at 163.”
“Contract set to test 165.40-165.47. A breakout above these resistance levels will be crucial to envisage an acceleration of the uptrend towards 165.93-166 before 166.43.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.