(U17) 162.38 Break Encouraging For.......>

BUND TECHS: (U17) 162.38 Break Encouraging For Retest Last Month's Highs

*RES 4: 163.47 1.618 swing of 162.67-161.37

*RES 3: 162.93 50% Fibo of 165.55-160.31

*RES 2: 162.67 Jul 24 high

*RES 1: 162.50 Jul 27 high

*PRICE: 162.36 @1036GMT                                   

*SUP 1: 161.90/00 Hourly support

*SUP 2: 161.72 Jul 31 low

*SUP 3: 161.37 Jul 28 low

*SUP 4: 161.21/24 61.8% Fibo of 160.31-162.67, Jul 18 low

*COMMENTARY* The move back above the pivotal 162.38 level is encouraging, not in

the least for another look at 162.50-162.67. Will need to clamber back above the

latter however, before thoughts can turn to a higher 162.93-163.47 rise, as we

continue the correction of the 165.55-160.31 fall seen over the last couple of

months. In the interim, support moves up to 161.90-162.00 but it is the lower

161.72 level that now needs to hold or doubt creeps in.