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(U17) 162.38 Resistance Pivotal To.......>

BUND TECHS
BUND TECHS: (U17) 162.38 Resistance Pivotal To Near Term Direction
*RES 4: 162.93 50% Fibo of 165.55-160.31
*RES 3: 162.67 Jul 24 high
*RES 2: 162.50 Jul 27 high
*RES 1: 162.38 Jul 28 high
*PRICE: 161.94 @1136GMT                                   
*SUP 1: 161.55/65 Hourly support
*SUP 2: 161.37 Jul 28 low
*SUP 3: 161.21/24 61.8% Fibo of 160.31-162.67, Jul 18 low
*SUP 4: 160.98/06 1.618 swing of 161.56-162.50, Jul 14 low
*COMMENTARY* Found support from 161.37 on Friday, then launching into a recovery
but needing back above Friday's 162.38 high, before the near term bias will
favour the topside again. In the meantime, looking to 161.55-65 for initial
support and protection against another move lower, with the 161.21-24 area
currently of more consequence than that 161.37 level. Directly through 162.38
and two previous highs bar the way to the 50% Fibo retrace at 162.93.

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