Halister News

(Bloomberg) -- Bund futures contract (generic, roll-adjusted) poised to break the 163.86 Fibonacci hurdle, which would set the stage for a swift ascent toward the 165.01 area, the location of the 2-month trend-channel top, Bloomberg Technical Analyst Sejul Gokal writes.

• NOTE: Click here for today’s technical, options and positioning monitors

• RX1: Tested and and so far rejecting the 76.4% Fibonacci resistance at 163.86, with intraday pullback expected to ease on approach of daily pivot line and yday’s mid point price at 163.47/41 (see chart)
• MACD crossing both signal and zero line; the last time MACD exhibited similar cross was back in early Jan. when bund futures traded at ~157, just before a new bull phase was initiated
  • Daily View: Bullish
  • Daily Range: Current move 29 ticks vs 72 expected
  • Resistance: 163.86; 164.17; 164.60/64; 165.01
  • Current price: 163.56
  • Support: 163.47/41; 163.12; 162.67

• NOTE: For more detail on G-10 technical levels click here
• NOTE: Sejul Gokal is an FX strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.