(U9) Closing in on the contract high.....>

BUND TECHS: (U9) Closing in on the contract high

*RES 4: 175.00 Round number resistance

*RES 3: 174.79 1.764 projection of the Mar 4-Mar 28 rally from Apr 17 low

*RES 2: 174.05 Contract high Jul 4 and key trend resistance

*RES 1: 173.97 High Jul 23

*PRICE: 173.80 @ 02:53 GMT July 24

*SUP 1: 173.27 Low Jul 19

*SUP 2: 173.02 Low Jul 18

*SUP 3: 172.44 Low Jul 17

*SUP 4: 172.16 Low Jul 16

U9 Bund pushed higher again yesterday. The outlook remains bullish with momentum

studies in a bull mode. Furthermore, the current recovery began off the Jul 12

low of 71.25, just ahead of the 50-day EMA. The average highlights where support

in the uptrend potentially exists and given that it held, confirms the broader

uptrend remains intact with a break to new trend highs likely. 174.05 is the key

bull trigger where a break would open 175.00. Support lies at 173.27.