HALISTER1: Bunds Close Gap, Retreat From 164.45-164.58 Resistance: Charts

Bunds Close Gap, Retreat From 164.45-164.58 Resistance: Charts

(Bloomberg) -- Bund futures (RXZ6) closes weekend gap at 164.29 to test daily pivot and day low at 164.13; generic contract pulls back from key topside resistance zone at 164.45-58, Bloomberg technical analyst Sejul Gokal writes.
  • See chart
  • Covers Friday’s close at 164.29 after opening gap higher (session high at 164.54)
  • Converging 21/55-DMA’s at 164.45-49 and 50% retracement of Sept. 30-Oct. 17 selloff at 164.58
  • Support at 164.06-04 (100-DMA, Oct. 21 low)
  • Bund futures now at 164.17
  • NOTE: Oct. 20, 164.48-58 regarded as strong layer of resistance and possible supply area
  • 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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