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(M0) Deeper Retracement Likely *RES 4:...>

BUND TECHS
BUND TECHS: (M0) Deeper Retracement Likely
*RES 4: 177.91 High Mar 10 and 11
*RES 3: 176.57 High Mar 13
*RES 2: 175.25 High Mar 16
*RES 1: 174.00 Round number resistance
*PRICE: 171.89 @ 04:45 GMT Mar 17
*SUP 1: 171.66 Intraday low
*SUP 2: 171.40 Low Feb 17
*SUP 3: 170.99 Low Feb 12
*SUP 4: 170.81 Low Feb 6 and key support
Bund futures fell sharply once again Monday as the correction that unfolded last
week extends. Prices have traded through a key area of support at 172.84, the
50-day EMA. This reinforces the current bearish theme and leaves the contract
exposed to a deeper pullback. Scope is seen for a move towards 170.00, Feb 12
low and 170.81, Feb 6 low next. On the upside, resistance is seen at 174.00
ahead of yesterday's 175.25 high.

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