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(M0) Time For A Correction? *RES 4:......>

BUND TECHS
BUND TECHS: (M0) Time For A Correction?
*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 Intraday high
*RES 1: 177.55 Intraday high
*PRICE: 175.67 @ 04:58 GMT Mar 10
*SUP 1: 174.62 Low Mar 4
*SUP 2: 174.01 20-day EMA
*SUP 3: 173.43 Trendline support drawn off the Jan 14 low
*SUP 4: 172.45 High Jan 31
Bund futures have staged an impressive pullback, down sharply off yesterday's
high of 179.31. The strong uptrend has been in overbought territory for some
time and perhaps now we can consider the beginning of a much needed technical
correction. The move below Friday's 175.91 low suggests scope for a move towards
174.62 next, Mar 4 low. The 20-day EMA intersects at 174.01 and represents an
important support area. Initial resistance is at 177.55.

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