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(M18) Bull Channel Base Confirms.........>

BUND TECHS
BUND TECHS: (M18) Bull Channel Base Confirms Significance
*RES 4: 160.26 Low Dec 13 now resistance
*RES 3: 160.00 Bollinger band top
*RES 2: 159.69 High Mar 28
*RES 1: 159.37 High Apr 13
*PREVIOUS CLOSE: 159.16
*SUP 1: 158.74 Low Apr 16, Bull channel base off Feb 15 Low
*SUP 2: 158.53 Hourly resistance Mar 22 now support
*SUP 3: 158.35 High Mar 16 now support
*SUP 4: 158.19 100-DMA
*COMMENTARY: Bears failed to capitalise on the break of 158.89 with the contract
bouncing ahead of the daily bull channel base off Feb 15 lows. Bulls now need a
close above 159.37 to gain breathing room and above 159.69 to reconfirm focus on
160.26-98 with the bull channel top at 160.81. Bears now look for a close below
158.17 to shift immediate focus to 157.31-67 and below the 55-DMA (157.31) to
initially target 156.22. Daily studies have returned to more neutral levels.

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