(M0) Pullback Likely A Correction *RES...>

BUND TECHS: (M0) Pullback Likely A Correction

*RES 4: 175.41 Low Mar 10

*RES 3: 174.81 61.8% retracement of the Mar 9 - 19 decline

*RES 2: 174.69 High May 4

*RES 1: 174.23 High May 6

*PRICE: 173.34 @ 04:50 BST May 7

*SUP 1: 173.19 Low May 6

*SUP 2: 172.94 Low Apr 30 and key near-term support

*SUP 3: 172.09 Low Apr 28

*SUP 4: 171.29 Low Apr 23 and bear trigger

Bund futures pulled back yesterday. The move lower is likely a correction with

firm support seen at 172.94, Apr 30 low. The price formation on this day was a

standard line, a continuation candle pattern that reinforces underlying bullish

conditions. While it holds, attention is on Monday's high of 174.69 where a

break would confirm a resumption of the uptrend and open 174.81, 61.8% of the

Mar 9 - 19 decline and 175.41. A move below 172.94 would concern bulls.