HALISTER1: Bund Futures Bearish Engulfing Injects Caution; Levels in Focus

Bund Futures Bearish Engulfing Injects Caution; Levels in Focus

(Bloomberg) -- Bund futures (RX1) technical levels in focus.
  • Daily Trend Bias: Neutral-to-bullish
  • Comment: Sellers steeped in against 162.68 Fibonacci hurdle with resultant bearish engulfing pattern suggesting caution is now required for upside positions; period of consolidation may ensue with support at 161.98-82 required to hold to prevent shift in power to bears
    • Resistance: 162.35-37; 162.44; 162.62; 162.78
    • Support: 161.98; 161.90-82; 161.68; 161.57
  • NOTE: Roll-adjusted by difference in GFUT
  • NOTE: Sejul Gokal is a FICC technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice
To contact the reporter on this story: Sejul Gokal in London at sgokal1@bloomberg.net To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net Scott Hamilton

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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