HALISTER1: Bund Futures Hit 4-Mo. Low; 161.90-61 Support, RSI Oversold

Bund Futures Hit 4-Mo. Low; 161.90-61 Support, RSI Oversold

(Bloomberg) -- December bund futures (RXZ6) accelerate losses to hit 162.36, the lowest level since June 23. Oversold RSI augurs risk for tactical bounce ahead of good support within 161.90-61, Bloomberg technical analyst Sejul Gokal writes.
  • See chart
  • 161.90-61 support area comprised of channel base, 123.6% Fibonacci retracement and 200-DMA
  • Interim support at 162.17 (pivot s2)
  • 9-day RSI at 28, most oversold since late April
  • NOTE: Oct. 26, downside target support area at 162.81-56
  • 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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