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(U18) Decline Continues After Friday's...>

BUND TECHS
BUND TECHS: (U18) Decline Continues After Friday's Bearish 'Outside Day'
*RES 4: 163.39 Jul 20 high
*RES 3: 163.07/09 Hourly low/high Jul 20
*RES 2: 162.70 Jul 19 low, now resistance
*RES 1: 162.55/60 Hourly resistance
*PRICE: 161.95 @0715GMT
*SUP 1: 161.85 Jun 29 low, 38.2% Fibo of 159.39-163.39
*SUP 2: 161.38 50% Fibo of 159.39-163.39
*SUP 3: 161.26 Jun 21 low
*SUP 4: 160.91/98 61.8% of 159.39-163.39, 1% volatility band
*COMMENTARY* The move through 163.20-163.30 resistance was not long lived, a
high of 163.39 last Friday, before giving back some ground, aided by a
potentially bearish 'outside day' close. The subsequent loss of 162.45-162.44
support yesterday, spoiled recent upside momentum and suggested scope for a
deeper correction of gains from the Jun 12 low at 157.37. This now sees 161.85
as next support, ahead of a deeper 161.38-161.26 drop. Resistance 162.55-162.60.

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