Bund is trading quite slow, choppy and overlapping for the last few months, which gives us an idea that a bigger correction is in play. We are talking about red wave IV which is made by three waves with recently completed triangle correction in sub-wave B.

Notice that bund is at the low, so it’s already in wave C underway, final leg in wave IV) that can look for a support at 158.00, or maybe at 153-154 region.  In either case, we are waiting on an impulsive reaction up to confirm the end of corrective decline that is in play since mid of 2016.

Euro BUND, Daily