. German Bund in Bearish Trend with Down Channel Formation - 10 March

German Bund in Bearish Trend with Down Channel Formation – 10 March

German Bund in Bearish Trend with Down Channel Formation – 10 March

10 Mar 2023

GERMAN BUND PRICE TECHNICAL ANALYSIS: WEEKLY CHART

In the weekly chart, German Bund is trading in a down channel

It is trading below all SMA

RSI is in the selling zone which indicates bearishness. Stochastic suggests a downtrend.

Its immediate support is at 132.57 & the resistance level is at 134.17

German Bund has made a hammer in a weekly candle, and it has broken the important resistance level marked, if it holds above the resistance level which is now support, we might see the upside.

GERMAN BUND PRICE TECHNICAL ANALYSIS: DAILY CHART

In the daily chart, German Bund is trading in the up channel.

German Bund is currently trading above 5&20 SMA.

RSI is in buying zone which indicates bullishness. Stochastic suggests the uptrend

Its immediate support is at 132.70 & immediate resistance is at 133.54

How to Trade German Bund this Week

German Bund is trading in an up channel it has broken the previous day’s high & it’s important resistance zone, and now we can see the German Bund trading upside.

TRADE SUGGESTION – BUY AT 133.39, TARGET AT 134.32, SL AT 132.94