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December Bund futures approaching key resistance area at 152.66/70 levels – Commerzbank

FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, notes that bund futures is approaching the 152.66/70 key resistance area which represents the top of the 20 year channel.

Key Quotes

“We would expect this to hold the initial test. What does this mean? We should see the 152.66/70 zone hold again.”

“Key short term support is last week’s low at 150.94 and the 2014 uptrend at 151.38. While this holds the upmove is intact. Above 152.70 we have Elliot wave counts to 153.05 then TD resistance at 153.24.”

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