Thursday, May 7, 2015

Bund 10 Minute Chart; High Volume at Bullish Engulfing

There was a high volume period in Bunds at 4:10 CST and the result of the two session period there was a 'bullish engulfing' pattern, suggesting some recovery is possible.  There has already been a recovery of 1.5 points with the 5:50 bar having been the largest open to close 10 minute period in the last 30 days.  That 46 tic advance was on above average volume as well.

There were 6 consecutive daily session new lows including today and if the Bund remains near current levels it would form a bullish hammer on the daily chart.   

There will be continued volatility, though for now, we have a support level in 151.5 to use in our strategies.


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