(M18) Further Upside Potential Needs.....>

BUND TECHS: (M18) Further Upside Potential Needs Sustained 157.69 Break 

*RES 4: 158.55/60 61.8% 160.98-154.62, swing of 157.69-156.22

*RES 3: 158.39 Jan 23 high

*RES 2: 157.80 50% Fibo of 160.98-154.62

*RES 1: 157.69 Mar 5 high

*PRICE: 157.57 @0811GMT

*SUP 1: 157.07/17 Hourly support

*SUP 2: 156.88 Mar 9 low

*SUP 3: 156.50/55 Congestion area Feb 27-26, Mar 6-8

*SUP 4: 156.22/24 Mar 8, Mar 6 lows

*COMMENTARY* The move through the Feb 5 and Jan 31 highs at 156.60 early this

month, gave the green light to the potential for a greater correction of the

160.98-154.62 losses seen since mid December. Last week saw a rise to 157.69, on

the approach to the next Fibo retrace level, the 50%, at 157.80. Became

overbought near term, so attention switched to 156.24-156.16 support. The

subsequent recovery through 157.36 again puts focus on 157.69.