(U0) Bulls Return *RES 4: 176.78 High....>

BUND TECHS: (U0) Bulls Return

*RES 4: 176.78 High May 22

*RES 3: 176.06 High Jun 26

*RES 2: 175.78 High May 29 and 61.8% retrace of the May - Jun sell-off

*RES 1: 175.34 High Jun 11

*PRICE: 175.13 @ 04:38 BST Jun 12

*SUP 1: 174.12 Low Jun 11 and key intraday support

*SUP 2: 173.25 Low Jun 10

*SUP 3: 172.57 Low Jun 5 and bear trigger

*SUP 4: 172.21 3.000 projection of May 5 - 12 swing from May 15 high

Bund futures rallied yesterday as a risk-off sentiment once again dominated the

market mood. The sharp climb signals an end to the recent downtrend and suggests

scope for a stronger near-term recovery. Attention turns to resistance at

175.78/79, May 29 high and 61.8% of the May - Jun sell-off. Initial support lies

at yesterday's low of 174.12. A break of this support is required to reinstate a

bearish risk and open the major support at 172.75, Jun 5 low.