Euro Bund future: bullish pattern and quotes above 14 day SMA

The major oscillators confirm the positive short term trend for Euro Bund future. New bullish pattern.

Euro Bund future close slightly higher. Trading session of Thursday, August 3 ended at 163.30 (+0.27%). Marked a series of 3 consecutive higher highs. Bullish pattern on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), we suggest to watch today closing. The major oscillators confirm the positive short term trend.
Euro Bund Future bullish pattern

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
Euro Bund future quotes are above 14 day moving average (SMA value is 162.17). The short term view remains bullish.
Volumes
Daily chart shows an increase in volumes compared to the previous day.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 03/08/2017.

Performance: 7 trading days= +0.94% – 15 trading days= +1.34% – 30 trading days= -1.07%

Resistance levels: R1= 163.62 – R2= 163.93 – R3= 164.70
Pivot Point: 163.16
Support levels: S1= 162.85 – S2= 162.39 – S3= 161.62


Buying opportunity above 163.45 targets minor resistance at 163.84 and perhaps as far as strong resistance at 164.10, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 164.64.

Selling opportunity below 163.12 targets minor support at 162.74 and perhaps as far as strong support at 162.48, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 161.94.

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