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(M18) Reaches 6 Week Bull Channel Top....>

BUND TECHS
BUND TECHS: (M18) Reaches 6 Week Bull Channel Top After 158.35 Break
*RES 4: 159.57 Dec 27 high
*RES 3: 159.48 76.4% Fibo of 160.98-154.62
*RES 2: 159.27 Jan 8 high
*RES 1: 158.95/00 6 week bull channel top, intraday high
*PRICE: 158.78 @1707GMT
*SUP 1: 158.53 Initial intraday rally high, now support
*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 the week,
today saw fresh strength evolve and a move through this previously troublesome
area. A high on the day so far of 159.00, basically equating to a test to the
top of the 6 week bull channel. As a consequence has 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 159.27-159.48 next.

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