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(U9) Broader trendline support...........>

BUND TECHS
BUND TECHS: (U9) Broader trendline support breached
*RES 4: 173.08 High Jul9
*RES 3: 172.73 High Jul 10
*RES 2: 172.02 Low Jul 10
*RES 1: 171.92 Former trendline support drawn off the low of Apr 117 low
*PRICE: 171.56 @ 02:53 GMT July 12
*SUP 1: 171.48 Intraday low
*SUP 2: 171.42 Low Jun 17
*SUP 3: 171.15 50-day EMA
*SUP 4: 171.01 38.2% retracement of rally between Apr 17-Jul 4
U9 Bund selling pressure extended once again yesterday. This week has seen
trendline support drawn off the May 3 low breached and yesterday the broader
trendline support, drawn off the Apr 17 low, at 171.83 was breached. The sharp
sell-off this week is expected to extend with momentum studies in a bear mode
too. The focus is now on the 38.2% retracement of the rally between Apr 17-Jul
4. Resistance provided by the former trendline support, intersects at 171.92.

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