(M9) Bulls Take Out 166 *RES 4:.........>

BUND TECHS: (M9) Bulls Take Out 166 

*RES 4: 168.86 High June 24, 2016 (continuation chart)

*RES 4: 168.60 Channel top resistance 

*RES 3: 167.50 Inverse head and shoulders target

*RES 2: 166.75 High March 28 

*PRICE: 166.01 @ 05:09 GMT May 8 

*SUP 1: 164.82/80 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 finally took out the 166 level yesterday further improving the

outlook and triggering an inverse head and shoulders formation. The next upside

target comes in at the March 28 highs at 166.75 while the inverse head and

shoulders target sits at 167.50. On the downside bears look for a break below

Friday's low at 164.82 and the 55-dma at 164.80 to open the April 17 low at

164.06.