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(H0) Still Below Trendline Resistance....>

BUND TECHS
BUND TECHS: (H0) Still Below Trendline Resistance
*RES 4: 173.30 High Dec 4
*RES 3: 173.22 High Jan 8 and key intraday resistance
*RES 2: 172.11 Trendline resistance drawn off the Sep 3 high
*RES 1: 171.80 High Jan 16
*PRICE: 171.53 @ 04:40 GMT Jan 17
*SUP 1: 170.65 Low Jan 14
*SUP 2: 170.19 Low Jan 2 and key support
*SUP 3: 170.06 1.618 projection of Nov 28 - Dec 3 decline from Dec 4 high
*SUP 4: 170.00 Round number support
H0 Bund futures were firmer again yesterday. The sharp sell-off on Jan 8 still
weighs on sentiment and for now the recent recovery is being viewed as a
correction. Further gains would open 172.11, the key trendline resistance drawn
off the Sep 3 high. Clearance of this level is required to open the Jan 8 high
of 173.22 that also marks the key bull trigger. A clear breach of this level
would signal a reversal. Support lies at 170.65, Jan 14 low.

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