(M0) Rebounds Off Yesterday's Low *RES...>

BUND TECHS: (M0) Rebounds Off Yesterday's Low

*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: 174.24 High May 8

*PRICE: 173.33 @ 04:50 BST May 12

*SUP 1: 172.80 Low May 12

*SUP 2: 172.65 50-day EMA

*SUP 3: 172.09 Low Apr 28

*SUP 4: 171.29 Low Apr 23 and bear trigger

Bund futures traded lower yesterday briefly probing support at 172.89, May 7 low

before rebounding. The trend outlook is unchanged and remains bullish with

support defined at yesterday's 172.80 low. Attention is on the May 4 high of

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

of the Mar 9 - 19 decline and 175.41, Mar 10 low. A clear breach of support at

172.80 is required to alter the picture.