The Bund is at risk of a blow off top!
If you look at the staggering rally of the German Bund, you can’t help to ask “when is this thing going to stop?” The fact that we have broke so many upside technical barriers means we have to take a very long term outlook and see where we may go. If you take the spike high from 2016 to the lows of 2018, the 161% Golden Fibonacci Extension leads us to the 177.34 level. Considering we are just above the 175 mark, the risk is for…..a lot higher.
Blake Morrow
