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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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BUND TECHS: (M18) 159.69 Break Opens Opportunity For 160.00 Next
*RES 4: 160.89 61.8% Fibo of 163.78-156.22
*RES 3: 160.24/27 Sep 28 low, 1% volatility band
*RES 2: 160.00 50% Fibo of 163.78-156.22
*RES 1: 159.84 Intraday high
*PRICE: 159.74 @1522GMT
*SUP 1: 159.40/50 Hourly support
*SUP 2: 159.00 Hourly congestion May 21-22
*SUP 3: 158.74 May 22 low
*SUP 4: 158.50 May 16 high, now support
*COMMENTARY* A brief new high of 159.50 on Monday, before once again giving back
some ground. This saw initial support from around 158.80 given a test, a low of
158.74 on Tuesday. The subsequent bounce has today broken clear of
159.35-159.69. Higher and 160.00, the 50% Fibo retrace and swing target of the
recent 159.50-158.74 rise, then comes into play. In the meantime, 159.50-159.40
reverts to support but it is currently 159.00 that provides the stronger level.

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