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(M0) Corrective Pullback Possible *RES...>

BUND TECHS
BUND TECHS: (M0) Corrective Pullback Possible
*RES 4: 180.00 Round number resistance
*RES 3: 179.63 2.000 projection of the Jan 13 - Jan 31 rally from Feb 6 low
*RES 2: 179.31 High Mar 9 and bull trigger
*RES 1: 177.91 High Mar 10 and 11
*PRICE: 176.97 @ 04:50 GMT Mar 12
*SUP 1: 175.41 Low Mar 110
*SUP 2: 174.62 Low Mar 4
*SUP 3: 174.58 20-day EMA
*SUP 4: 173.70 Trendline support drawn off the Jan 14 low
Bund futures are still trading below Monday's 179.31 high following the sharp
move lower on Tuesday. Conditions are unchanged. The trend at recent highs was
overbought and perhaps now we can consider scope for a much needed technical
correction. The move below Friday's 175.91 low suggests scope for a test of
174.62, Mar 4 low. The 20-day EMA intersects at 174.58 and represents an
important area of support. Initial resistance is at 177.91.

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