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BUND TECHS: (U18) Bullish Inverse Head-And-Shoulders Formation
*RES 2: 132.070 Low July 19 now resistance
*RES 3: 132.000 High July 25
*RES 2: 131.929 21-DMA
*RES 1: 131.910 High July 30
*PREVIOUS CLOSE: 131.890
*SUP 1: 131.850 Neckline support
*SUP 2: 131.750 Low August 6
*SUP 3: 131.660 Low August 3
*SUP 4: 131.520 Hourly Low August 2
A bullish inverse head-and-shoulders formation appears to be in play on the
hourly chart with the neckline coming in just below current levels at 131.850
and targeting an eventual move to 132.40. Bulls need to hold this level and
rally above the July 25 high of 132.00 to confirm the bullish pattern. On the
downside, bears need to close below 131.850 to gain some breathing room, and
below Friday's low of 131.660 to re-establish the bearish trend.