As you can see, bonds are sharply down and if we take a look at German Bund monthly chart. From Elliott Wave perspective, we can still see a corrective decline within higher degree wave (IV).
From technical perspective, ideal support would be here at the former wave IV, 38,2% Fibo. retracement, base channel upper line and the 155 – 150 area. So, be aware of limited decline and watch out for bounce and new rally within higher degree wave (V) soon.
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