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Elliott Wave Analysis: German Bund Is Trading At Support

Long
EUREX:FGBL1!   FUTURE 8 1/2-10 1/2 Y.GOV.BOND 6% FUTURES
Hello traders and investors!

Today we will talk about German Bund , where we see very interesting support level after recent bond market crash.

As you can see, bonds are sharply down and if we take a look at German Bund monthly chart, from Elliott Wave perspective, we can still see a corrective decline within higher degree wave (IV).
From technical perspective, ideal support would be here at the former wave IV, 38,2% Fibo. retracement, base channel upper line and the 155 - 150 area.
So, be aware of limited decline and watch out for bounce and new rally within higher degree wave (V) soon.

Trade well!
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