Bund Technical Analysis – Buy the dips!

After a strong session on Thursday that saw us back into positive territory we had a weak day on Friday, but we held above the 130.67 level that has now become our reference point to stay with the bulls.

So this looks like a buying opportunity in a market that is embarking on a resumption of an uptrend, a market that has just seen a pullback within the uptrend, and a market that should now be thinking about retesting the highs at 133.26.

If 130.65 fails to hold the bulls have one more opportunity to salvage things, a gap at 130.25.

Below are the short term support and resistance levels, the important ones highlighted in bold type.

R7132.14
R6131.85
R5131.67
R4131.55
R3131.39
R2131.18
R1 - 131.06
S1 - 130.83
S2130.65
S3130.41
S4130.25
S5 - 130.00
S6 - 129.84
S7129.49

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