DAILY JUN'19 BUNDS - Wednesday's trade idea and technicals
While weekly signals continue to point higher and to buying dips, Tuesday’s signals switched to temporarily bearish. These were confirmed with sentiment posting a 2nd lower daily high & low in a row and a loss of almost ½ Pt. The pullback is probably temporary profit taking and futures are testing their 13 day average rate and more importantly 166.06, the window which has remained open since the last 2 week close. Until this level is broken the outlook for Wednesday remains just cautiously bearish and the call is to sell on the open and then at 166.74, yesterday’s opening trade with a stop loss at 166.90, yesterday’s top. Targets are to 166.31/33, the 14th May & yesterday’s lows, 166.10, last week’s base and 165.59, the 7th May open.
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