Long

Bund right above major support, prepare for a potential bounce!

Bund is hovering really nicely above major support at 160.40 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) and a bounce could occur at this level. If price breaks through our descending resistance line, this would add much more conviction to the potential bounce up to 161.88 resistance (Fibonacci retracement, horizontal overlap resistance).

RSI (34) also sees a descending resistance line holding price down really well. Only a break above this could trigger a corresponding bullish bounce in price.

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Losses can exceed the initial investment so please ensure you fully understand the risks.

Tickmill

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results

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