(U0) Focus Is On The Ascending...........>

BUND TECHS: (U0) Focus Is On The Ascending Triangle

*RES 4: 177.35 High May 18

*RES 3: 177.00 Round number resistance

*RES 2: 176.92 High Jul 10 and the bull trigger

*RES 1: 176.74 High Jul 13

*PRICE: 176.37 @ 04:59 BST Jul 21

*SUP 1: 175.54 Low Jul 9

*SUP 2: 175.04 Low Jul 2

*SUP 3: 174.80 Low Jun 17

*SUP 4: 174.74 50.0% retracement of the Jun 5 - Jul 10 rally

Bund futures found support yesterday at 175.77. The outlook remains bullish. A

break of 176.92, Jul 10 high is still required though to reinforce this

condition. This would confirm what appears to be a bullish ascending triangle

formation on the charts. The pattern suggests a break higher is likely to extend

the recovery since the reversal on Jun 5. Weakness through the Jul 13 low of

175.54 would instead expose 175.04, Jul 2 low and a key support.