The BUND confirmed a weak closing well below the 136,90 level supporting further weakness. The weekly closing was also weak below the low of the previous week that was already a negative week reversal. We expect further weakness in the coming sessions; the move up we’re seeing this morning is in our view a correction!
The indicators of the daily chart are still below the line but not yet those of the weekly chart. The indicators of the s/t ones are instead mixed this morning with those of the hourly chart already showing potential negative reversals. Before resuming the decline we could however see an extension of the correction toward the 200 hours line at 137,85, move that we expect to be a selling opportunity!!
We stay short.
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/11/BUND-11.21.pdf
FUTURE TREND RESEARCH