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

Euro Bund future close slightly higher. Technical analysis applied to the daily chart shows a bullish trend, we suggest to monitore today closing.

Euro Bund future close slightly higher. Trading session of the 05/01/2016 ends at 159.05 (+0.16%). New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2). Technical analysis applied to the daily chart shows a bullish trend, anyway for today trading session the forecast of price movements is between support and resistance levels. The major oscillators confirm the bullish trend. Marked a third consecutive positive trading session. We suggest to monitore today closing.

Euro Bund Future

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 158.43). 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: 05/01/2016.

Performance: 7 trading days= +0.47% – 15 trading days= +0.18% – 30 trading days= +0.65%

Resistance levels: R1= 159.38 – R2= 159.72 – R3= 160.52
Pivot Point: 158.92
Support levels: S1= 158.58 – S2= 158.12 – S3= 157.32


DAILY TRADING SIGNALS

Buying opportunity above 159.19 targets minor resistance at 159.57 and perhaps as far as strong resistance at 159.83, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 160.35.

Selling opportunity below 158.88 targets minor support at 158.51 and perhaps as far as strong support at 158.25, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 157.73