The BUND failed to confirm Friday’s negative day reversal turning instead higher and suggesting a possible break above 137,12, Friday’s top.
The indicators of the daily chart are now again positive and also those of the s/t ones are in positive territory this morning supporting a possible move up! Only an hourly closing above 137,12 will however confirm higher levels suggesting a test of the resistance line at 137,33 with even a possible overshooting.
We still believe this move up is corrective and a selling opportunity!!
We remain on the sideline.
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http://www.easyforexnews.net/wp-content/uploads/2011/12/BUND-12.13.11.pdf
FUTURE TREND RESEARCH