HALISTER1: Bund Futures Test Resistance; Turns Bullish If 164.50 Taken Out

Bund Futures Test Resistance; Turns Bullish If 164.50 Taken Out

(Bloomberg) -- Bund futures (Dec. 16) test above the 163.87 resistance as market unwinds recent selloff; scope to extend intraday corrective move to 164.24, Bloomberg technical analyst Sejul Gokal writes.
  • See chart here
  • 163.87 represents Aug. 29 low and recent breakdown level
    • Next resistance at 164.24, Sept. 2 low
  • Near-term risks still lie to the downside while market stays capped by the 55-DMA at 164.48
  • Generic contract has found good support near lower end of ichimoku cloud and late July low, both at 162.95
  • Dec. bund futures now +46 ticks at 163.81
  • NOTE: Sept. 12, Bund 10-Yr Yield May Extend as Far as 200- DMA at 17bps
  • NOTE: Generic contract is roll-adjusted by difference on GFUT
  • NOTE: Sejul Gokal is an 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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