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BUND TECHS
BUND TECHS: (U0) Testing Triangle Resistance
*RES 4: 177.52 High May 15
*RES 3: 177.35 High May 18
*RES 2: 177.00 Round number resistance
*RES 1: 176.95 High Jul 22
*PRICE: 176.82 @ 04:55 BST Jul 24
*SUP 1: 175.77/54 Low Jul 20 / 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 remain bullish. The contract traded higher Wednesday and probed the
key resistance at 176.92, Jul 10 high. A clear break of this hurdle would
reinforce the underlying bullish theme and also confirm a bullish ascending
triangle formation on the charts. The pattern suggests the uptrend that has been
in place since Jun 5 is likely to to extend. The objective is 177.77, the Apr 30
and May 5 high. Key support is at 175.54, Jul 13 low.

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