Bund – dip lower has been minor, looking for recovery – Commerzbank

FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank sees the dip back from the 61.8% retracement of the last sell off at 151.57 to be minor as it continues to find support offered by Imoku 1 at 150.91.

Key Quotes

“Dips should be well supported from here down to the 150.54 uptrend uptrend leaving it still well placed for gains to 152.49/66. This is the top of a 20 year channel and we would again look for it to hold the topside. Initial resistance is 151.97/152.00 the 78.6% retracement.”

“Uptrend support is reinforced by the 55 day ma at 149.86 and only a close below this latter level would confirm the end of the bull run”