Last week saw the setback in the German 10 YR Bund from all-time highs deepen. A 2nd negative weekly performance in a row resulted – and the most aggressive decline of 2014. The daily Keltner channel is now angling lower and midweek buying last week stalled, and reversed, at the key 13 day moving average.
These factors are all negative and so, allowing for volatile trading conditions there is potential for the downside to deepen to 147.37 or even towards 146.79 this week.
