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12 Nov 2014
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”
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”