(U0) Bearish Theme Extends *RES 4:.......>

BUND TECHS: (U0) Bearish Theme Extends

*RES 4: 175.78 High May 29 and key resistance

*RES 3: 174.61 Low May 27

*RES 2: 174.37 High Jun 4

*RES 1: 173.66 High Jun 5

*PRICE: 173.07 @ 04:47 BST Jun 8

*SUP 1: 172.57 Low Jun 5

*SUP 2: 172.21 3.000 projection of May 5 - 12 sell-off from May 15 high

*SUP 3: 172.00 Round number support

*SUP 4: 171.79 3.236 projection of May 5 - 12 sell-off from May 15 high

Bund futures traded lower again Friday to end the week on a soft note. The move

lower last week confirmed a bearish cycle and established a clear bearish price

sequence of lower lows and lower highs. Further downside is likely with the

focus on 172.00 next and potentially 170.87, Mar 19 low further out. On the

upside, resistance is seen at 174.37, Jun 4 high. A break above 175.75, May 29

high is needed though at this stage, to reverse the trend.