HALISTER1: Bund Futures Bottom Forming Against Support Zone at 161.68-59

Bund Futures Bottom Forming Against Support Zone at 161.68-59

(Bloomberg) -- Bund futures generic (Dec. 16) may be carving a short-term bottom after Friday’s candlestick reversal above 200-DMA and 2015 up-trendline, Bloomberg technical analyst Sejul Gokal writes.
  • See chart
  • 200-DMA at 161.68
  • Generic contract also closed above the trendline support from mid-2015 of 161.59
  • 9-day RSI remains oversold at ~28
  • Resistance at 162.81-89 and 163.19
  • German 10-yr bond holding critical 18bps support representing the yield downtrend from early 2014 (see chart)
  • NOTE: Sejul Gokal is a technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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