Technical forecast for Bund

Bund continued lower as predicted to good Fibonacci support at 141.65/60 & we looked for a low for the day, advising to exit shorts & try longs. We did bottom almost exactly here in fact at 141.67. The bounce hit resistance at 142.76/82 which did hold the topside as predicted but be ready to go with a break higher today for 143.00/04 possibly as far as 143.26/32 for a selling opportunity. Exit longs & try shorts with stops above 143.45 for the next target & resistance of the 200 day moving average at 143.55/60.

Immediate support is 142.69/66 so below here risks a slide to 142.25. Stops on longs below 142.15 as a break lower could test 141.82 before last week’s low at 141.67. Use a move here as a buying opportunity down to 141.60 with stops below 141.45.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. has established itself as the leading provider of... More