(U0) Corrective Pullback *RES 4:.........>

BUND TECHS: (U0) Corrective Pullback

*RES 4: 176.78 High May 22

*RES 3: 176.54 76.4% retrace of the May - Jun sell-off

*RES 2: 176.06 High Jun 26

*RES 1: 175.98 High Jun 15

*PRICE: 174.98 @ 04:47 BST Jun 16

*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 traded higher again yesterday however the contract stalled at the

day and has since pulled back. From a trend perspective, the outlook remains

bullish and the move lower is considered a correction. Last week's gains signal

an end to the previous downtrend, and suggests scope for a stronger near-term

recovery. A break of yesterday's 175.98 high would open 176.54, 76.4% of the May

- Jun sell-off. Initial support lies at Thursday's low of 174.12.