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December Bund futures remain below the 152.08 November 17 high – Commerzbank

FXStreet (Barcelona) - Alex Rudolph at Commerzbank notes that bund futures stayed below the November 17 high of 152.08, and sees 152.49/66 as a key resistance in the medium term.

Key Quotes

“Dips lower should remain well supported by the three month support line at 151.36. Below here we find the 2014 uptrend line at 150.92. This uptrend support is reinforced by the 55 day ma at 150.06 and only a close below this latter level would confirm the end of the bull run."

“Shorter term (1-3 weeks): Bid bias above the 55 day ma at 150.06, still targets 152.49/66.”

“Medium term (1-3 months): The 152.49/66 area is seen as key resistance.”

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