BUND pushes through Thursday's high
Euro Bund (BUND) Technical Analysis Report for Jan 11, 2019 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, BUND ended the week 0.24% higher at 164.43 after gaining €0.28 (0.17%) today. Closing above Thursday's high at 164.38, the Bund confirmed its breakout through the prior session high after trading up to €0.26 above it intraday.
Daily Candlestick Chart (BUND as at Jan 11, 2019):
Friday's trading range has been €0.48 (0.29%), that's slightly below the last trading month's daily average range of €0.58. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for BUND.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the three market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "RSI(2) above 80" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for Euro Bund. Out of 328 times, BUND closed higher 56.40% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 61.89% with an average market move of 0.21%.
With four out of the other four Bond Markets closing higher today, the ones that stand out on the positive side are TBOND gaining 0.52% and TNOTE10Y closing 0.26% higher. None of the markets ended the day in the red. Read more