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27 Feb 2015
Bunds breaking higher from the range – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, mentions that with bund futures breaking higher from its range, a move towards 160.90 is possible.
Key Quotes
“Bund futures have broken higher from their range and have already reached the top of the 7 year channel at 159.96. While this has held the initial test, the range does offer an upside measured target to 160.90.”
“The market remains immediately bid above the 158.23/18 support.”
“Only a close below 158.18 would alleviate upside pressure and act as the break down point to key support, which remains 157.19/156.71 the 2014-2015 uptrend and 55 day ma.”
“Above 160.90 we do have an additional point and figure target of 163.40/80 (from the 60 and 240 minute charts)."
“Shorter term (1-3 weeks): breaking higher from range – target 159.96 then 160.90.”
"Medium term (1-3 months): Uptrend and 55 day ma maintains bull trend, at top of two channels”
Key Quotes
“Bund futures have broken higher from their range and have already reached the top of the 7 year channel at 159.96. While this has held the initial test, the range does offer an upside measured target to 160.90.”
“The market remains immediately bid above the 158.23/18 support.”
“Only a close below 158.18 would alleviate upside pressure and act as the break down point to key support, which remains 157.19/156.71 the 2014-2015 uptrend and 55 day ma.”
“Above 160.90 we do have an additional point and figure target of 163.40/80 (from the 60 and 240 minute charts)."
“Shorter term (1-3 weeks): breaking higher from range – target 159.96 then 160.90.”
"Medium term (1-3 months): Uptrend and 55 day ma maintains bull trend, at top of two channels”