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(M18) Bulls Need Close Above....>

US EURODOLLAR TECHS
US EURODOLLAR TECHS: (M18) Bulls Need Close Above 97.775
*RES 4: 97.838 Daily Bear channel off Sept high
*RES 3: 97.820 High Mar 2
*RES 2: 97.775 Highs Mar 6 & 7
*RES 1: 97.744 21-DMA
*PRICE: 97.690 @ 0930GMT
*SUP 1: 97.683 Bollinger band base
*SUP 2: 97.675 2018 Low Mar 15
*SUP 3: 97.622 Daily Bear channel base
*SUP 4: 97.580 Monthly Low Nov 2008
*COMMENTARY: Bears remain focused on the 97.480-622 support region where the
bear channel base and levels last seen in Oct/Nov 2008 are noted as fresh 8+yr
lows continue. The Bollinger base is the key concern given potential to limit
follow through. In saying that, bulls now need a close above 97.775 to confirm a
break of the 21-DMA and ease bearish pressure. A close above the 55-DMA (97.873)
is needed to target 97.980-98.075.

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