Bund future bias back through 149.82/79 for corrective top
· Despite a modest bounce effort Tuesday, the inside pattern leaves a still negative correction risk into midweek from the Friday bullish rally and setback.
· We look for a further dip, with risk through the 149.82/79 area now completing a topping structure (Head & Shoulders?) to signal a deeper correction through 149.54 for the “neckline” support at 149.34, but trying to hold firmer support at 149.07.
· However, the Friday surge through targets at 150.25 and 150.48 points to potential further upside (now into latter August), with extension risk through 150.70 to 151.00 and 151.18.
WHAT CHANGES THIS?
· Below 149.79 eases bull risks; through 149.07 signals a neutral tone, only shifting negative below 148.67.
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2 Hour Bund Sept Future Chart
Daily Bund Sept Future: Adjusted Continuation Chart