#Euro-Bund is on support.. looks like `W` formation.. In this moment it's nice place to take a risk and take long with that stock.
German 10-yr Bund prices dropped to rising trend line support coming from June low and July low. Prices are attempting a rebound form the rising trend line support and the odds of a solid rebound are high, if we take into consideration the bullish price RSI divergence on the hourly and 4-hr chart. Even the MACD is suggesting the bearish momentum has run out of...
The wave picture has gotten fuzzy over the past 24 hours. I am beginning to lean more towards today's high as a 'B' wave which suggests a mutli-hundred pip sell off is on the horizon. If it develops, I'll adjust the labels on the chart when counts get eliminated. Note the divergence on RSI...that is also indicative of B waves and ending waves. On a side note,...
Please leave me your comment whether you agree or disagree so we can open an discussion or if you like the chart just simply like it. Thank you for your feedback. Rising EURUSD and Bunds yields are not helping DAX to pick up momentum and gather some bullishness. As price recently broke through the support at 11200 next target could easily be 10800 (618 Fib)...
The support area in the rectangle has some unique characteristics that makes it a good place to expect the recent Bund sell-off to halt: 1- Trendline 2- 50% Retracement 3- Change of Polarity zone Until that area, I don't see any reliable support on the chart and expect the Bund price to keep falling. Good luck, Ali Sharifazadeh, CFTe