HALISTER1: Bund Futures Showing Topside Exhaustion; Levels in Focus

Bund Futures Showing Topside Exhaustion; Levels in Focus

(Bloomberg) -- Bund futures (RX1) technical levels in focus.
  • Daily Trend Bias: Neutral-to-Bearish
  • Comment: Monday’s gap up and safety bid flows failed to generate follow-through momentum with market staying anchored near 165 (large duration supply (~EU22m/bp) due this week); MACD lead line has rolled over and is on Tuesday crossing below the signal line, first time since before Sintra
    • Resistance: 165.21; 165.29-31; 165.69; 165.96
    • Support: 164.78; 164.52-49 (incl. 21-DMA); 164.36
  • 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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