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(M0) Bearish Theme Remains In Place......>

BUND TECHS
BUND TECHS: (M0) Bearish Theme Remains In Place
*RES 4: 173.16 High May 26
*RES 3: 172.57 High May 29 and key near-term resistance
*RES 2: 171.87 High Jun 3
*RES 1: 171.34 High Jun 4
*PRICE: 170.53 @ 04:54 BST Jun 5
*SUP 1: 170.37 Low Jun 4
*SUP 2: 170.26 61.8% retracement of the Mar 19 - May 4 rally
*SUP 3: 170.00 Low Apr 8
*SUP 4: 169.69 Low Mar 26
Bund futures traded lower yesterday resuming the downtrend once again that has
been in place since peaking at 174.69 on May 4. The move lower maintains the
current bearish price sequence of lower lows and lower highs that defines a
downtrend. Attention turns to 170.26 next, 61.8% of the rally between Mar 19 -
May 4 and 170.00, the Apr 8 low. On the upside, key short-term resistance has
been defined at 172.57, May 29 high.

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