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(H18) Correcting Oversold Conditions.....>

BUND TECHS
BUND TECHS: (H18) Correcting Oversold Conditions After 160.00 Holds
*RES 4: 161.55 Jan 10 high
*RES 3: 161.30 Mini congestion area Jan 10-11
*RES 2: 161.18 Jan 2 low, now resistance
*RES 1: 160.91/97 Jan 10 low, Jan 16 high
*PRICE: 160.85 @0905GMT
*SUP 1: 160.30 Hourly support
*SUP 2: 160.00/11 May 11, Jan 12 lows
*SUP 3: 159.58 1.618 swing of 160.11-160.97
*SUP 4: 159.44 Equality fall from 162.04 to 163.78-161.18
*COMMENTARY* Found some support from 160.11 last Friday after previously seeing
a slide from 161.55-160.27 the previous day. This leaves us above the May 11 low
at 160.00 and perhaps more importantly the lower 1% volatility band at 159.46 by
time today. In the near term, hourly conditions are oversold, so some kind of
correction is upon us. In this respect, with the move above 160.85 look for
initial resistance from between two former 160.91 and 161.18 lows.

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