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Bund Future Resilience Points to Upside Extension

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Bund Future Resilience Points to Upside Extension

Bund future bias above 151.09 for 151.18 and targets at 151.36, maybe 151.76

·         We stated in our last client report that “for Tuesday, we see digestion between 150.40 and 151.09” and the high level consolidation above modest support at 150.69 leaves upside risks intact for this week.

·         The new all-time high on Monday signalled a rejection of a potential top and leaves upside risks into month-end.

·         We still see bias for 151.18 and targets at 151.36 and maybe even 151.76.

·         The 8-day RSI, short-term momentum is positive, but not OB, leaving scope to go still higher this week.

WHAT CHANGES THIS?

·         Below 150.40 eases bull risks; through 150.10 signals a neutral tone, only shifting negative below 149.79.

Please see full report with levels and latest audio-visual analysis here: http://members.marketchartist.com/Daily/bund.pdf

2 Hour Bund Sept Future Chart

b2ap3_thumbnail_bund2_20140827-061058_1.png

 

Daily Bund Sept Future: Adjusted Continuation Chart

b2ap3_thumbnail_bund1_20140827-061056_1.png

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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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