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10 Feb 2015
Bunds near-term negative bias – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, maintains a slight negative bias on bunds in the near-term, with nearest support at 157.83 levels.
Key Quotes
“Bund futures while trading below 159.19/54 we are inclined to maintain a slightly negative bias near term.”
“The market is easing slowly back from the top of its 7 year channel – this now lies at 159.96 for February and the top of its short term channel is at 160.40.”
“Above 160.40 lie the point and figure targets on the 60 and 240 minute charts at 163.40/80 and a Fibonacci extension at 163.87. The point and figure target on the daily lies at 167.00.”
“Initial support lies at 157.83 then 157.58 the base of a short term channel.”
“Key support remains the 155.77/72 2014-2015 uptrend and 55 day ma – a close below here will be needed to negate the long term bull move.”
Key Quotes
“Bund futures while trading below 159.19/54 we are inclined to maintain a slightly negative bias near term.”
“The market is easing slowly back from the top of its 7 year channel – this now lies at 159.96 for February and the top of its short term channel is at 160.40.”
“Above 160.40 lie the point and figure targets on the 60 and 240 minute charts at 163.40/80 and a Fibonacci extension at 163.87. The point and figure target on the daily lies at 167.00.”
“Initial support lies at 157.83 then 157.58 the base of a short term channel.”
“Key support remains the 155.77/72 2014-2015 uptrend and 55 day ma – a close below here will be needed to negate the long term bull move.”