Against a background of positive signals for sentiment for this week Bunds continue to track the topside of a rising Keltner channel. Prices were bought at higher levels for a 4th day in a row yesterday although demand was muted and with the market unable to break through zero yields. The result was a minor net decline but despite that setbacks remain likely to be limited and sentiment is assessed as mildly positive.
Scope to 164.98, 165.21 and 165.43.
164.60 is likely to attract fresh buyers and only below 164.35 is negative.