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December Bund futures heading towards November high of 152.08 – Commerzbank

FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank sees Bunds once again heading towards the 152.08 current November high which is the last defence for the 152.49/70 resistance.

Key Quotes

“Bund futures last week retested and then strongly bounced off the 2014 uptrend line, now at 151.23. They are once again heading towards the 152.08 current November high.”

“It 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 last week’s low at 150.94 would put the 55 day moving average and the late October low at 150.26/06 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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