TEST OF THE UPWARD CHANNEL RESISTANCE - GERMAN BUND FUTURE MARKET (FGBL) ANALYSIS

Market opened with a small upward gap which was filled immediately and incentive Buyers took the lead and gradually market rose to 145.89. Upon release of the US data, a spike was made at 145.99, which was to be LoD.
Market ended some 15 ticks lower.

At 145.60, POC is considerably higher than Thursday, which was left virgin. There is a buying tail from 145.16 to 145.35 and value ends at 145.83.
 

Result is a green candle with two shadows. Upper shadow is in contact with upper BB and the resistance obllique of the upward channel.

Shikou Span is still below the candle line while all other ICHIMOKU indicators are on a bullish mode in the TU.

Last two trading days move could be analyzed as a pullback on the former support of the rising wedge and a possible double top at 146.00.

On a weekly basis, candle is a almost a doji hammer which forms a crowbar top with the previous candle.
Weekly PP is at 145.22. As long as prices do remain above such level, likely target is R1 at 146.50.
Failure of the market to go over 146.00 could trigger some profit taking from long positions.

Would the market retrace on Monday the upward move from 144.03 to 145.99, there is first level at 145.50 ( 23.6 retracement) then 145.25 (PP, MA 44 and 38.2 retracement) and then LoD (145.16) and 144.86 (mid PP-S1).

On the resistance side, above 145.99 (2 x HoD), there is R1 (146.48), mid R1-R2 (146.87) and R2 (147.22).

No figures tomorrow and its Monday. I am therefore expcting a quiet day and the market to retrace part of the last two trading days upward move.

Have a nice Sunday evening.