German Bund: New pullbacks cannot be ruled out - Natixis

Given that the daily stochastic is struggling to turn around, new pullbacks cannot be ruled out towards 161.35 (daily parabolic), possibly the support levels around 161.04-161.12 (descending support trendline) for German Bunds, according to Micaella Feldstein, Research Analyst at Natixis.

Key Quotes

“These pullbacks would be an opportunity for the contract to gather its breath before staging new rebounds: the weekly stochastic remains upbeat, pointing to a new rally towards 162.54 (weekly Bollinger moving average). A breakout above this last level would instil strong upward momentum towards 162.92163.05 before 163.44 (monthly Bollinger moving average) and 163.84-164 (Fibonacci projections). Support levels are located at 161.35, around 161.04-161.12, around 160.70-160.82 and at 160.30.”