The BUND confirmed a weak closing last night, below the low of the previous session but also below the 100 days line. We could see further weakness but remember that when the US was downgraded the bond did not plunge!!
The indicators of the daily chart are still well negative while those of the s/t ones are mixed suggesting further consolidation. The decline could have confirmed a negative reversal in the hourly chart suggesting a s/t target 132,59.
Only an hourly closing above 135,62 will postpone the decline favouring higher levels probably above 136. For now we prefer waiting for further confirmations but the scenery is looking now vulnerable to further weakness!!
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FUTURE TREND RESEARCH