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December Bund futures bounce off the 2014 uptrend line at 151.09 - Commerzbank

FXStreet (Barcelona) - Alex Rudolph, Analyst at Commerzbank notes Bund futures have bounced off the 2014 uptrend line and are once again heading towards the 152.08 high.

Key Quotes

“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 unexpected failure at this week’s low at 150.94 would put the 55 day moving average and the late October low at 150.15/06 back on the map. While this support zone holds we will remain bullish.”

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

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