Bund Futures Forming Bullish Hammer Candle at Support: Charts
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- Bullish hammer against range lows may trigger s-t upside toward Fibonacci resistance at 164.17, Bloomberg technical analyst Sejul Gokal writes.
Alert: HALISTER1- See chart
- Interim resistance at 163.93-96 (100-dma, Oct. 13 high)
- 164.17 is 38.2% Fibonacci of Sept. 30- Oct. 17 selloff; next resistance at 164.58 (50% retracement)
- Today’s ‘hammer’ low at 162.81, right against 162.79 support (Sept. 14 low)
- Similar ‘hammer’ candlestick on July 21 anticipated higher bund future prices in days ahead
- Bund futures little changed at 163.50 vs. 162.81 low
- 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.
Source: BFW (Bloomberg First Word)
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UUID: 7947283