The BUND confirmed another weak closing on Friday but overall it is finding some good support in the 134 area. The weekly closing was very weak confirming a top at 139,58 and suggesting for the coming sessions/ week a firm test of the key level of a potential double top formation at 132,89!! A break below this level will call a 130 undershooting!!
The indicators of the daily chart are still well negative and since Friday also those of the weekly one are below the line supporting further weakness. The indicators of the s/t charts are also negative this morning with bullish divergences confirming the negative tone. Possible rebounds are therefore corrective and selling opportunities especially in case of a 136 overshooting!!
We suggest waiting for possible higher levels to sell but for the moment only above the 136 level!!
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FUTURE TREND RESEARCH