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(M18) Focus Returns To 158.43-158.38.....>

BUND TECHS
BUND TECHS: (M18) Focus Returns To 158.43-158.38 As Pullback Continues
*RES 4: 159.69 Mar 28 high
*RES 3: 159.42 May 7 high
*RES 2: 159.24 Initial pullback low May 7
*RES 1: 158.94 Hourly high May 8
*PRICE: 158.57 @0755GMT
*SUP 1: 158.38/43 Apr 30, May 3 lows
*SUP 2: 158.19 61.8% Fibo of 157.43-159.42
*SUP 3: 157.90 76.4% Fibo of 157.43-159.42
*SUP 4: 157.74 Apr 26 low
*COMMENTARY* Has struggled to maintain upside momentum after breaking above
pivotal 159.16 resistance last Thursday. This has precluded a retest of the Mar
28 high at 159.69. A peak of 159.42 as some near term overbought conditions take
a hold. The subsequent move back below 158.60 today has damaged further upside
hopes and likely to put pressure back on 158.43-158.38 next. As a consequence,
resistance falls to 158.94-159.24. Below 158.38 and scope to see 158.19-157.90.

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