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(U17) 'Shooting Star' Candle Close Is....>

BUND TECHS
BUND TECHS: (U17) 'Shooting Star' Candle Close Is Near Term Concern
*RES 4: 166.40/54 Feb 24 high, 1% volatility band
*RES 3: 166.04 4 week rising resistance line
*RES 2: 165.69/70 Aug 29 high, Feb 28 low
*RES 1: 165.29/31 Aug 30, Aug 31 highs
*PRICE: 165.03 @1515GMT                                   
*SUP 1: 164.50 4 week bull channel base proj'n
*SUP 2: 164.36 Aug 25 low
*SUP 3: 163.90 Congestion area Aug 16-17
*SUP 4: 163.63 38.2% Fibo of 160.31-165.69
*COMMENTARY* Broke above 164.95-164.98 resistance and has now filled the rest of
the opening gap left by the 165.70-162.65 fall between Feb 28-Mar 1 this year.
However a 'shooting star' daily candle close last Tuesday is a near term concern
here and has also become overbought on a near term basis. 164.89 support has
subsequently been lost and the 164.50 area is now of more importance below.
Meanwhile, 165.29-165.31 now provides resistance.

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