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How Strong is the German Bonds Bund Rally?

Interest-Rates / International Bond Market Feb 25, 2011 - 05:41 AM GMT

By: Seven_Days_Ahead

Interest-Rates

Best Financial Markets Analysis ArticleThe Technical Trader’s view:


 

MONTHLY  CHART

The long-term bund chart remains extremely bearish.

The succession (five pinpointed here) of breakdowns through the support from Prior Highs – both diagonal and horizontal remains a blight on the market.

Anyone of those supports might have formed a bottom to the market – but none did.

 

 

DAILY CHART

So the rally of the last week or so has to be seen in the context of the longer term chart.

Just two of the broken supports are superimposed on this short-term chart – and will act as a medium-term band of resistance.

Certainly the rally has penetrated the first short-term band of resistance 123.76 -124.27, and the near-term down trend resistance (coincident with the horizontal band) but drifting open interest suggests the covering of shorts rather than new longs.

If the rally is to enthuse the bulls, there needs to be a great deal more price action with which the market can build a bottom from which it can convincingly attack the resistances above.

 

Mark Sturdy
John Lewis

Seven Days Ahead
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Mark Sturdy, John Lewis & Philip Allwright, write exclusively for Seven Days Ahead a regulated financial advisor selling professional-level techni44cal and macro analysis and high-performing trade recommendations with detailed risk control for banks, hedge funds, and expert private investors around the world. Check out our subscriptions.

© 2011 Copyright Seven Days Ahead - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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