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(H0) Fades Off the Highs *RES 3:.........>

BUND TECHS
BUND TECHS: (H0) Fades Off the Highs
*RES 3: 175.55 1.618 projection of the Jan 2 - Jan 8 rally from Jan 14 low
*RES 2: 175.30 High Jan 31 and key bull trigger
*RES 1: 174.92 76.4% retracement of the Jan 31 - Feb 6 decline
*PRICE: 174.35 @ 05:10 GMT Feb 19
*SUP 1: 173.72 Low Feb 12
*SUP 2: 173.41 Low Jan 27 and Jan 29
*SUP 3: 173.21 50-day EMA
After a decent start to the Tuesday session, Bunds faded fast into the close
despite topping resistance at 174.86. Recently our attention has been on the
potential for a pullback in price action to extend the reversal from Jan 31.
However, initial resistance at the Feb 10 high has been breached, suggesting
scope for a recovery towards resistance at 175.30, the Jan 31 high. A 175.30
break would confirm a resumption of this year's uptrend. Sub 173.42 levels are
required to reinstate a bearish theme and the 50-day EMA.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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