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(U18) Pennant Formation Developing.......>

BUND TECHS
BUND TECHS: (U18) Pennant Formation Developing
*RES 4: 162.70 Low July 19 now resistance 
*RES 3: 162.58 21-DMA 
*RES 2: 162.47 High July 25 
*RES 1: 162.37 Hourly resistance July 26 
*PREVIOUS CLOSE: 162.07
*SUP 1: 162.00 Hourly Support 
*SUP 2: 161.33 55-DMA 
*SUP 3: 161.89 Low July 26 
*SUP 4: 160.22 High June 13 now support 
The contract is operating in a narrowing range with hourly support at 161.20 the
key level for the bears to overcome and hourly resistance at 162.37 the next
level for the bulls. A break below the July 26 low would suggest a bearish break
of a pennant formation, pointing to the next wave of selling from the July 20
high. 

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