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(H19) Bears Have Their Work Cut Out .....>

BUND TECHS
BUND TECHS: (H19) Bears Have Their Work Cut Out 
*RES 4: 165.00 Inverse head-and-shoulders target 
*RES 3: 164.15 High May 29 (continuation chart) 
*RES 2: 163.88 High Aug 17 (continuation chart) 
*RES 1: 163.50 Measured move from double bottom formation 
*PREVIOUS CLOSE: 162.35 
*SUP 1: 162.00 Support 
*SUP 1: 161.32 Low Nov 23 
*SUP 2: 161.10 Up trendline support from Oct lows 
*SUP 3: 160.30 55-dma 
Bund futures show no sign of ending their bullish trend any time soon, with the
next upside target coming in at the 163.50 level marking the measured move from
the double-bottom formation established in Sep and Oct. Bears need to break back
below 162.00 to shift the outlook neutral and target the 161.32 Nov 23 low.
Below here opens up trendline support from the Oct lows which comes in at
161.10.

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