(H0) Testing Trendline Resistance *RES...>

BUND TECHS: (H0) Testing Trendline Resistance

*RES 4: 173.30 High Dec 4

*RES 3: 173.22 High Jan 8 and key intraday resistance

*RES 2: 172.24 61.8% retracement of the Jan 8 - Jan 14 sell-off

*RES 1: 171.97 Trendline resistance drawn off the Sep 3 high

*PRICE: 171.87 @ 04:46 GMT Jan 21

*SUP 1: 171.35 Low Jan 16

*SUP 2: 170.65 Low Jan 14

*SUP 3: 170.19 Low Jan 2 and key support

*SUP 4: 170.06 1.618 projection of Nov 28 - Dec 3 decline from Dec 4 high

H0 Bund has edged higher. Attention is on 171.97, the key trendline resistance

drawn off the Sep 3 high. A clear breach of the trendline would strengthen a

bullish case and signal the early stages of a potential reversal opening 173.22,

Jan 8 high. For now though and until the trendline is cleared, gains are being

viewed as a correction. The sharp sell-off on Jan 8 still weighs on sentiment. A

return lower and break of 171.35, Jan 16 low would be bearish.