German 10Y Bund Yield Initiating New Leg Up Against Key Support
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- German 10y bund yield potentially embarking on a new wave higher after tactical retracement in December wanes against key 21-week exponential moving average, Bloomberg technical analyst Sejul Gokal writes.
Alert: HALISTER1- See LIVE chart; now +6bps to 0.25%
- 21-Exp. MA support at 0.17% this week, limits further yield decline and potentially draws the line at further corrective action from 0.46% high in early Dec.
- Yield touched lowest since November at 16bps in early new year trade before bouncing against 21-EMA and 55-WMA at 0.17%-0.15%
- Short-term yield resistance seen at 0.27%-0.28% and 0.31%
- NOTE: Dec. 14, Setbacks may find support from 21-Exp MA and the 50 percent retracement of the latest selloff at 0.15%-0.13% (see chart previously posted).
- 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.
Source: BFW (Bloomberg First Word)
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UUID: 7947283