Elliott Wave Analysis: German Bund Is Trading At Support
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!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
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!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
