(M9) 166 Remains Hard To Overcome .......>

BUND TECHS: (M9) 166 Remains Hard To Overcome 

*RES 4: 168.20 Channel top resistance 

*RES 3: 167.00 Bull flag breakout target 

*RES 2: 166.75 High March 28 

*RES 1: 166.00 High Apr 3,10 

*PRICE: 165.59 @ 05:01 GMT May 7 

*SUP 1: 164.82/75 Low May 3/55-dma 

*SUP 2: 164.06 Low Apr 17 

*SUP 3: 163.63 Low Mar 19 

*SUP 4: 162.42 Low Mar 1 

Bund futures failed to take out the 166 yesterday despite coming close on the

back of risk off pressures. The weak close keeps the near term outlook neutral

with bulls looking to overcome yesterday's high at 165.86 to target 166. Above

here would shift the focus back to the March 28 highs at 166.75. On the downside

bears look for a break below Friday's low at 164.82 and the 55-dma at 164.75 to

open the April 17 low at 164.06.