Outside bar pattern for Euro Bund future, watch volumes before opening long o short positions.
Euro Bund future Thursday, December 22 closing price was basically unchanged (-0.07%) at 163.17. Technical overview is neutral. The short term view leaves assume a price movements between support and resistance levels. Momentum indicator shows positive values but, for now, no bullish or bearish signals are triggered. Outside bar pattern on daily chart, watch volumes before opening long o short positions.
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Simple Moving Average (SMA)
Quotes are above the 14 days moving average (SMA value is 161.82). The short term view is basically neutral.
Daily chart shows volume is lower than the previous day.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 22/12/2016.
Performance: 7 trading days= +0.44% – 15 trading days= +1.35% – 30 trading days= +1.81%
Resistance levels: R1= 163.45 – R2= 163.74 – R3= 164.31
Pivot Point: 163.17
Support levels: S1= 162.88 – S2= 162.60 – S3= 162.03
Buying opportunity above 163.32 targets minor resistance at 163.71 and perhaps as far as strong resistance at 163.97, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 164.51.
Selling opportunity below 162.99 targets minor support at 162.62 and perhaps as far as strong support at 162.35, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 161.82.