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Free Access(U18) Potential Inverse..................>
BUND TECHS: (U18) Potential Inverse Head-And-Shoulders Forming
*RES 4: 162.70 Low July 19 now resistance
*RES 3: 162.41 High July 25
*RES 2: 162.39 High August 7
*RES 1: 162.23 21-DMA
*PREVIOUS CLOSE: 162.17
*SUP 1: 161.98 Low August 8
*SUP 2: 161.45 Hourly Low August 3
*SUP 3: 161.17 Hourly Low August 2
*SUP 4: 160.86 Low August 1
A close above the 21-dma and Tuesday's high of 162.39 would result in a
significant bullish chart pattern, triggering an inverse-head-and shoulders
formation with an upside target of 164.00, even though 162.70 would likely pose
some resistance. Bears now need to close below 161.98 in the first instance to
shift the focus neutral, and move below 161.17 to re-establish the bearish
trend.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.