Bund 10Y Falters at -2bp Hurdle, Seen Line-in-Sand for Market
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- Bund 10-yr rate finds renewed selling pressure against -2bps resistance which keeps intact the near-term prospects of a deeper retracement toward 16bps (200-DMA), Bloomberg technical analyst Sejul Gokal writes.
Alert: HALISTER1- See chart here
- -0.024% represents the 50% retracement of Sept. 7-14 selloff in bunds; level is also the mid-Aug. breakdown point
- Bears given extra impetus as bund corrective unwind from mid-last week fails at the previous breakdown point and contained by the 100-DMA line at -2bps
- Interim supports at 8bps and 12bps (Sept. 14 and June 23 high)
- NOTE: Sejul Gokal is an technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Source: BFW (Bloomberg First Word)
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UUID: 7947283