The values of Momentum indicator confirm the positive underlying trend, we suggest to monitore today Euro Bund future closing.
Euro Bund future Thursday, March 30 closing price was 161.44, slightly higher (+0.18%). New bullish technical picture drawn on daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2) and marked a fifth consecutive positive trading session. For today trading session the forecast is for price fluctuations between support and resistance levels. The values of Momentum indicator confirm the positive underlying trend, we suggest to monitore today closing.
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Simple Moving Average (SMA)
Euro Bund future quotes are above 14 day moving average (SMA value is 160.12). The short term view is bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.
Daily chart shows a decrease in volumes compared to 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: 30/03/2017.
Performance: 7 trading days= +0.77% – 15 trading days= +1.53% – 30 trading days= -1.82%
Resistance levels: R1= 161.65 – R2= 161.87 – R3= 162.38
Pivot Point: 161.36
Support levels: S1= 161.14 – S2= 160.85 – S3= 160.34
Buying opportunity above 161.59 targets minor resistance at 161.97 and perhaps as far as strong resistance at 162.23, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 162.76.
Selling opportunity below 161.26 targets minor support at 160.89 and perhaps as far as strong support at 160.63, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 160.10.