OUTLOOK: Price Signal Summary -Bear Threat In Bunds Still Present
Dec-16 12:29
In the FI space, Bund futures remain in consolidation mode. A bear-mode cycle is intact and the contract is trading closer to its recent lows. Scope is seen for an extension towards the 127.00 handle. Key short-term resistance is 128.75, the Dec 3 high. Note that the contract is oversold. A stronger corrective bounce would allow this oversold condition to unwind. The price pattern on Dec 10 is a doji candle - a short-term reversal signal. Initial resistance is 128.08, The Dec 8 high.
Recent activity in Gilt futures highlights 90.53, the Nov 25 / 26 low, and 91.93, the Nov 27 high, as two important short-term directional triggers. A breach of 90.53 would signal scope for a deeper retracement towards 89.86, the Nov 19 low and bear trigger. For bulls, a stronger resumption of gains and a breach of 91.93, would instead signal scope for a climb towards resistance at 92.55, the Nov 11 high.
EQUITY OPTIONS: Large Estoxx Options
Dec-16 12:15
SX5E (19th June) 5200p, trades 107 in 32k.
SX5E (19th June) 4800p, trades 60 in 75k.
SX5E (19th June) 6200c, trades 63 in 27k.
MNI EXCLUSIVE: MNI Looks at EU's Strategy with China
Dec-16 12:11
MNI looks at the EU's strategy in the face of a large and growing trade deficit with China -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com