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Bund Bull Bias

Posted by on in Fixed Income Chart Updates
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Bund Bull Bias

A firm bounce has reinforced our view of an end to the corrective downside phase and leaves risks for a re-energizing of bull pressures this week and mid-January.

The strong rally to end 2014 and begin 2015 (above Fibo extension at 156.77 and 157.13) re-energized the bullish theme from the 154.58 base and leaves upside threats intact.

Momentum: The 8-day RSI, short-term momentum is correcting from OB, leaving scope to go still higher this week.

Short-term Outlook - Upside Risks:

  • We still see a positive tone with the bullish threat to Fibo extension targets into mid-Januarynow 157.49 and 157.88.
  • Above here sees further targets for mid-month at 158.27 and 158.56.

What Changes This? Below 156.10 eases bull risks; through 155.56 signals a neutral tone, only shifting negative below 154.58.

For Today:

  • We see an upside bias for 156.90; break here aims for 157.10, maybe 157.26.
  • But below 156.30 opens risk down through 156.10, towards 155.74.

Daily Bund Future Chart


2 Hour Bund Future Chart


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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