Euro Bund Future: new bullish technical picture drawn on daily chart

Euro Bund technical view is bullish. The price is above the 14 days moving average (SMA value is 162.74) and the major oscillators confirm the upward trend.

On the 08/02/2016 Euro Bund future close was at 164.84 (+0.75%). New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), we suggest to watch today closing. For intraday trading session the technical view is positive and leaves assume the up-trend continuation. However, we can’t exclude retracements towards the most significant support levels. The major oscillators confirm the upward trend.

bullish Euro Bund

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 162.74). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Volumes
Daily chart shows volume is higher than the previous day. This could be a sign of a significant move to come.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 08/02/2016.

Performance: 7 trading days= +0.91% – 15 trading days= +2.92% – 30 trading days= +4.43%

Resistance levels: R1= 165.36 – R2= 165.88 – R3= 167.22
Pivot Point: 164.54
Support levels: S1= 164.02 – S2= 163.20 – S3= 161.86


DAILY TRADING SIGNALS

Buying opportunity above 165.04 targets minor resistance at 165.45 and perhaps as far as strong resistance at 165.70, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 166.19.

Selling opportunity below 164.66 targets minor support at 164.23 and perhaps as far as strong support at 163.92, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 163.29.