Difficult to say exactly what is playing out here in BUNDS but the grind higher of recent days/weeks is not typical of wave iii/3 dynamic action. What is clear from the chart is that Fri
20th was an outside bearish engulfing
day at the recent highs. Not only that but it reversed 100 ticks from the days highs and engulfed around 5 days worth of price action which seems to suggest a bearish
posture at least in the short term.