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24 Feb 2015
Bunds: potential bullish flag formation – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, views that bunds consolidation is about to end, o.22% target in sight.
Key Quotes
“With the market remaining in a range of 158.20 – 159.50, our view remains the same, looking for another bullish swing in Bunds to occur after the current consolidation is completed with another push towards 160.00 on the table and potentially higher.”
“The yield chart suggests there is a potential bullish flag formation, which, once triggered, will see a push towards 0.22%. Only a sustained break above 0.44% would cancel the view.”
“SUP: 158.48, 158.20, 157.80"
“RES: 158.94, 159.57, 159.98”
Key Quotes
“With the market remaining in a range of 158.20 – 159.50, our view remains the same, looking for another bullish swing in Bunds to occur after the current consolidation is completed with another push towards 160.00 on the table and potentially higher.”
“The yield chart suggests there is a potential bullish flag formation, which, once triggered, will see a push towards 0.22%. Only a sustained break above 0.44% would cancel the view.”
“SUP: 158.48, 158.20, 157.80"
“RES: 158.94, 159.57, 159.98”