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20 Jun 2013
Flash: Bunds stay bullish as rise hinges on 141.86 – RBS
FXstreet.com (New York) - According to Technical Strategist Dmytro Bondar at RBS, “Bund prices failed to break the 20-day MA and a Fed-triggered selloff eliminated the possibility of an inverse head and shoulders formation.”
Remarkably, oscillators stay bullish, especially slow stochastic with standard parameters, which has formed a positive crossover in the oversold region. This leads me to believe there should be a bounce in the price, which is currently supported at the 141.86/96 retracements.
Moreover, “A break of 141.86 would be a signal to turn to a bear market with next support at 141.35/28 and 140.85. If right, and the bounce materializes, the major obstacles would be 142.95/143.15 and 143.94.” Bondar adds.
Remarkably, oscillators stay bullish, especially slow stochastic with standard parameters, which has formed a positive crossover in the oversold region. This leads me to believe there should be a bounce in the price, which is currently supported at the 141.86/96 retracements.
Moreover, “A break of 141.86 would be a signal to turn to a bear market with next support at 141.35/28 and 140.85. If right, and the bounce materializes, the major obstacles would be 142.95/143.15 and 143.94.” Bondar adds.