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Bund Future (Minor) Head & Shoulder Top Threat!

Posted by on in Fixed Income Chart Updates
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Bund Future (Minor) Head & Shoulder Top Threat!

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.


·         Below 149.79 eases bull risks; through 149.07 signals a neutral tone, only shifting negative below 148.67.

Please see full report with levels and latest audio-visual analysis here:


2 Hour Bund Sept Future Chart



Daily Bund Sept Future: Adjusted Continuation 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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