HALISTER1: Bund Futures Look Capped by September Downtrend; Levels in Focus

Bund Futures Look Capped by September Downtrend; Levels in Focus

(Bloomberg) -- Bund futures (RX1) technical levels in focus.
  • Daily Trend Bias: Mildly Bearish
  • Comment: Last week’s upside reaction to 200-DMA support line possibly petering out against early Sept. downtrend at 161.30 today; daily studies remain bearish and underpin bears; closing break above 161.37 required to mitigate near-term downside risks
    • Resistance: 161.37; 161.44; 161.62-68; 161.76
    • Support: 160.73-66; 160.34-24; 159.73
  • 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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