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(H18) Recovery Continues, Next Fibo......>

BUND TECHS
BUND TECHS: (H18) Recovery Continues, Next Fibo Retrace Level At 160.52
*RES 4: 161.13 Jan 23 high
*RES 3: 160.87 1% volatility band
*RES 2: 160.52 50% Fibo of 163.78-157.26
*RES 1: 160.36 Intraday high
*PRICE: 160.12 @0830GMT
*SUP 1: 159.77/87 Hourly support
*SUP 2: 159.58 Mar 2 low
*SUP 3: 159.34 Initial rally high Feb 28, now support
*SUP 4: 159.03 Feb 28 low
*COMMENTARY* The move through the Feb 5 and Jan 31 highs at 159.30-159.33 last
week, gave the green light to the potential for a greater correction of the
163.78-157.26 losses seen since mid December. With today's higher opening we
have seen a 160.36 high so far, as we approach the next Fibo retrace level, the
50%, at 160.52. Support rises to 159.87-159.77 but the lower 159.58-159.34 area
is currently more important. Above 160.52 and the 1% volatility band next.

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