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

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.