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.