Technical Commentary: The EuroMTS 7-10 yr. is an index composed of a basket of Euro zone government bonds; it capitalizes coupons. Since November 2011, the index has built a bullish dynamics confirmed by the overflow of the 190 points major level in February 2012. ...
Day By Day – Indipendent Research
The current pull-back on the pattern is a test of the quality of the signal; therefore, if the consolidation area is not penetrated again, we can expect new historical highs. This bullish scenario is also favored as the ascending 100-day moving average is now a dynamic support. We are therefore positive in the short term and we expect the rallying of the 187.20 points Fibonacci resistance, an extension target also merged with the theoretical target of the rectangle. We set the invalidation level of this positive opinion slightly below the 182.80 points support.
| Close price | 183.28 |
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| 2 months Opinion | BULLISH |
| 2 weeks Opinion | POSITIVE |
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| Resistances | 187,2 / 191,3 pts |
| Supports | 182,8 / 179 pts |
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Source: ETFWorld – Day By Day – Indipendent Research