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(U9) Another Shooting Star Reversal......>

BUND TECHS
BUND TECHS: (U9) Another Shooting Star Reversal Candlestick Noted
*RES 4: 178.00 Psychological level
*RES 3: 177.00 Psychological level
*RES 2: 176.90/92 10Y Bund -.55% yield; Bull channel top from Apr 17 low
*RES 1: 176.63/88 U9 contract high Aug 5; Channel top from Jul 12 low
*PRICE: 176.20 @ 04:11 GMT Aug 6
*SUP 1: 175.82 Gap base from Aug 2 close
*SUP 2: 175.75 5-DMA
*SUP 3: 174.52 Low July 31
*SUP 4: 174.05 High 4 July
U9 Bund has formed 2nd consecutive shooting star candlestick pattern - small
body, long upper wick, and little or no lower wick, implying a bearish pattern
during an uptrend. The daily studies are now looking extremely overbought and at
historic levels of reversal. Risk of a pullback remains to fill downside gap to
175.82 and correction to the 5-DMA at 175.45 not ruled out.

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