(U0) Outlook Still Bullish *RES 4:.......>

BUND TECHS: (U0) Outlook Still Bullish

*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: 175.66 @ 04:53 BST Jun 22

*SUP 1: 174.80 Low Jun 17

*SUP 2: 174.12 Low Jun 11 and key near-term support

*SUP 3: 173.25 Low Jun 10

*SUP 4: 172.57 Low Jun 5 and bear trigger

Bund futures are holding onto recent gains and maintain a bullish tone following

the recent strong recovery off the Jun 5 low. These gains, between Jun 5 - 15

signal an end to the previous downtrend and suggests scope for a stronger

recovery near-term. A break of 175.98, Jun 15 high would open 176.54, 76.4% of

the May - Jun sell-off. Initial firm support lies at 174.12, Jun 11 low. A

breach would instead expose 172.57, the Jun 5 low. First support is 174.80.