Eurodollar Future – June 2008 |
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Comment: Only five weeks to delivery yet there is still plenty of interest in this contract month. The corrective bounce of the last three weeks has put it into overbought territory and we continue to expect it to stall around current levels. Prices should then drop back down to 97.000 later this month, possibly with an extension to 96.800/96.750 before settling closer to 97.000. Strategy: Sell at 97.430/97.470; stop above 97.650. Cover shorts between 97.200 and 97.065, then stand aside if
Filed under: Futures
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