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19 Jun 2013
Flash: Inverse H&S looms for Bunds – RBS
FXstreet.com (New York) - A bullish opening gap (potential inside session) coupled with looming Inverse Head and Shoulders confirm there are more chances of recovery for Bunds in the near-term.
According to Technical Strategist Dmytro Bondar at RBS, “This comes on the heels of a Morning Star (using a blending technique) and 143.94 level breakout. The main targets would be 144.55 and 145.00/13 and ultimately 145.43. An initial reaction from the 143.94 level was expected not altering the view as long as the price remains above 142.95. The long-term view however is negative, so a bounce would be seen as a L/T selling opportunity.”
According to Technical Strategist Dmytro Bondar at RBS, “This comes on the heels of a Morning Star (using a blending technique) and 143.94 level breakout. The main targets would be 144.55 and 145.00/13 and ultimately 145.43. An initial reaction from the 143.94 level was expected not altering the view as long as the price remains above 142.95. The long-term view however is negative, so a bounce would be seen as a L/T selling opportunity.”