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(H0) Bounce Is Most Likely Corrective....>

BUND TECHS
BUND TECHS: (H0) Bounce Is Most Likely Corrective
*RES 4: 173.48 Trendline resistance drawn off the Sep 3 high
*RES 3: 173.30 High Dec 4
*RES 2: 172.99 High Dec 12
*RES 1: 172.31 High Dec 13
*PRICE: 172.13 @ 04:43 GMT Dec 16
*SUP 1: 170.75 Dec 13 low
*SUP 2: 170.06 1.618 projection of Nov 28 - Dec 3 decline from Dec 4 high
*SUP 3: 170.00 Psychological level
*SUP 4: 169.77 1.764 projection of Nov 28 - Dec 3 decline from Dec 4 high
H0 Bund rallied sharply off Friday's low. Whether the bounce is the start of a
stronger recovery is too early to tell. Friday's initial sell-off resulted in a
break of key support at 170.92, Aug 11 low. This is a bearish development
confirming a resumption of the broader downtrend. A return lower and a break of
Friday's low would open 170.06 and the psychological 170.00 handle. The former
is a Fibonacci projection. Clearance of 172.90 would reverse the outlook.

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