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(U9) Correction lower still likely.......>

BUND TECHS
BUND TECHS: (U9) Correction lower still likely
*RES 4: 180.05 1.00 projection of Jul 12-Jul 25 rally from the Aug 8 low
*RES 3: 180.00 Round number resistance
*RES 2: 179.66 Contract high Aug 15 and key resistance
*RES 1: 179.19/21 High Aug 20 and 26
*PRICE: 178.52 @ 02:45 GMT Aug 27
*SUP 1: 177.48 Low Aug 23 and bear trigger
*SUP 2: 176.96 Low Aug 9
*SUP 3: 176.45 38.2% retracement of Jul 12-Aug 15 rally
*SUP 4: 176.12 Aug 6 low
U9 Bund yesterday retraced part of the climb between Friday's low and Monday's
high. It is too early to determine whether the recent correction lower has run
its course. Last Thursday confirmed a trendline break and, with momentum studies
beginning to unwind their overbought condition, there still remains the
potential for a move lower. The focus is on the 176.45 Fibonacci level.
Resistance is at 179.19/21, the Aug 20/26 highs. A break would open 179.66.

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