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Bund Another strong rebound from Imoku 1 support – Commerzbank

FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank sees Bund dips well supported by the 151.24/25 Imoku 1 level.

Key Quotes

“The Bund remains bid, it has again traded through the 61.8% retracement of the last sell off at 151.57 and closed above here and targets 151.97/152.00, the 78.6% retracement. This is the last defence for the 152.49/66 key resistance and target. This represents the recent high and the top of the 20 year channel.”

“Dips lower should remain well supported by the 151.24/25 Imoku 1 level. Below here we find the 150.69 uptrend. Uptrend support is reinforced by the 55 day ma at 149.93 and only a close below this latter level would confirm the end of the bull run.”

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