Daily Technical Talk - 09/19/2008
Friday, September 19th, 2008
Most analysts are changing their outlook for the BUND to “negative”
Our “friend” from YOU&US sees the BUND ” … now entering into a much more extended consolidation phase into next week, prompting a test of the area of support within the 113.19/70 range ….” . He believes the BUND is exposed to further selling pressure and downside while they trade below the 114.85 Gap. Next main supports : 113.94 and 113.56 retracement level.
The “Fixed Income Research” of the CreditSuisse believes that prices below 114.71 can trigger a deeper setback down to the uptrend from July 2008 at 114.24 and 114.15/05. They prefer to reverse shorts on this level with stops below 113.94. Their daily comment came out before opening today.
The Commerzbank - “Fixed Income Research” sees the support in the BUND around 114.14/17, followed by 113.98/92 and 113.71/70. They have resistance around 114.50/54 and 114.70/73 - expected trading range 113.98 (113.71) to 114.71 (114.85).
Regards
Mike
