HALISTER1: Bund Futures Show Conclusive Triangular Break; Levels in Focus

Bund Futures Show Conclusive Triangular Break; Levels in Focus

(Bloomberg) -- Bund futures (RX1) technical levels in focus.
  • Daily Trend Bias: Bullish
  • Comment: Friday’s topside resolution of a ‘triangulation’ in place since late September bolsters the bullish bias ahead of the breakout; important Fibonacci hurdles at 162.21 and 162.68 now guard the September peak at 163.43; daily MACD has crept its way above zero line which supports bullish momentum conditions in coming days
    • Resistance: 162.21; 162.36; 162.68
    • Support: 161.89; 161.82; 161.63-57; 161.42
  • 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 Anil Varma

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