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(M18) Rally Rejected By Bull Channel.....>

BUND TECHS
BUND TECHS: (M18) Rally Rejected By Bull Channel Top Last week
*RES 4: 159.57 Dec 27 high
*RES 3: 159.48 76.4% Fibo of 160.98-154.62
*RES 2: 159.24/28 7 week channel, 1.618 swing 159.00-158.55
*RES 1: 159.01 Mar 23 high
*PRICE: 158.77 @0655GMT
*SUP 1: 158.53/55 Initial rally high Mar 22, Mar 23 low
*SUP 2: 158.30/35 Mar 19, Mar 16 highs, now support
*SUP 3: 158.05 Congestion area Mar 20-21
*SUP 4: 157.75 Mar 21 low
*COMMENTARY* After retreating from below 158.30-158.35 for most of last week,
Friday saw fresh strength evolve and a move through this previously troublesome
area. A high of 159.01 so far, basically equating to a test to the top of the 6
week bull channel, at the time. As a consequence, reached near term overbought
territory, so watching 158.53 initially and 158.30 thereafter for clues. A hold
above here and scope to increase gains to 159.24-159.48 next.

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