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(H18) Closes Below Bull Channel Base.....>

BUND TECHS
BUND TECHS: (H18) Closes Below Bull Channel Base
*RES 4: 162.75 21-DMA
*RES 3: 162.37 High Dec 27
*RES 2: 161.86 High Dec 29
*RES 1: 161.53 Hourly resistance Jan 2
*PREVIOUS CLOSE: 161.33
*SUP 1: 161.18 Low Jan 2
*SUP 2: 160.80 High Oct 25 now support
*SUP 3: 160.26 Monthly Low Oct 2
*SUP 4: 159.78 Monthly Low Sept 29
*COMMENTARY: Pressure returning to the daily bull channel base took its toll
with a close below that now sees bears focused on 159.78-160.26 with below
160.80 to add weight to their case. O/S daily studies and the Bollinger base
(161.17) remain key concerns for bears with potential to limit follow through.
Bulls now need a close above 161.86 to ease bearish pressure and above 162.37 to
hint at a move back to 163.78.

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