(M18) Above 158.40 To Gain Breathing.....>

BUND TECHS: (M18) Above 158.40 To Gain Breathing Room

*RES 4: 158.95 Low Apr 17 now resistance

*RES 3: 158.74 Low Apr 16 now resistance

*RES 2: 158.45 Hourly support Apr 19 now resistance

*RES 1: 157.97 High Apr 23

*PREVIOUS CLOSE: 157.83

*SUP 1: 157.51 55-DMA

*SUP 2: 157.34 Low Mar 14

*SUP 3: 156.22 Monthly Low Mar 8

*SUP 4: 156.02 Weekly Bear channel base

*COMMENTARY: Immediate focus remains on the 157.34-51 region where the 55-DMA is

located. Bears need a close below 157.34 to confirm traction below the 55-DMA

and initially target 156.02-22. The Bolli base (158.14) is the key concern for

bears. Layers of resistance continue to build and add weight to the bearish

case. Bulls now need a close above 158.40 to gain breathing room and above the

21-DMA (159.06) to return focus to 159.55-69 where Mar highs are noted.