Lack of direction for Bund

Despite short-term downwards pressure over the next few weeks the Bund is likely to move sideways in the longer term, says BNP Paribas Personal Investors:

“In the medium term, we believe that Bund is in a large degree distribution phase. We expect sideways move in the coming months. In the short-term, below 152.49 we expect more downside pressure in the coming weeks, at least towards 149.45. Only a breakout of 152.49 would resume the uptrend.” See chart.

For details, see BNP Paribas Personal Investor’s Weekly Technical Review  of 15 markets, including:

S&P 500
EUROSTOXX 50
DAX 30
CAC 40
IBEX 35
S&P Materials
T-Notes
Bund
EUR/USD
CCI Index
Brent
Gold
Three stocks: VEOLIA, BPOST, AHOLD