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December Bund futures probe the 2014 uptrend line at 151.01 – Commerzbank

FXStreet (Barcelona) - Axel Rudolph, Analyst at Commerzbank notes bund futures coming off 152.08 and re-testing the uptrend line at 151.01.

Key Quotes

“Bund futures are coming off their current November high at 152.08 and retest the 2014 uptrend line at 151.01. Failure there would put the 55 day moving average and the late October low at 150.10/06 back on the map. While this support zone holds, upside pressure could again be seen.”

“The current November high at 152.08 is the last defence for the 152.49/70 key resistance area which also is our target zone. It represents the recent high and the top of the 20 year channel.”

“Only a daily chart close below the 150.06 late October low would confirm the end of the bull run.”

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