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Boot out Bunds

The main government bond future looks like a good sell at current levels
June 5, 2013

Germany's leading long-term government bond contract has failed three times to break above 147, says Mark Sturdy at www.sevendaysahead.com.

A bullish continuation pattern broke down, and now a negative trend has emerged. Fibonacci levels are only providing temporary support. To confirm the bearish set-up, a breakdown through 141.28-138.41 would be needed. Bunds are a sell.