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(U9) Correction near-term? *RES 4:.......>

BUND TECHS
BUND TECHS: (U9) Correction near-term?
*RES 4: 178.552.618 projection of Mar 4-mar 28 rally off Apr 17 low
*RES 3: 178.00 Psychological level
*RES 2: 177.74/83 U9 contract high Aug 7, Bollinger band top
*RES 1: 177.55 High Aug 12
*PRICE: 177.10 @ 02:46 GMT Aug 12
*SUP 1: 176.21 23.6% retracement of Jul 12-Aug 7 rally
*SUP 2: 176.48 Trendline support from July 12
*SUP 3: 175.26 38.2% of retracement of Jul 12-Aug 7 rally
*SUP 4: 174.82 21-DMA
U9 Bund broader uptrend remains intact. Friday's selling pressure however may be
an early sign a correction is due. The daily condition is overbought and the
focus is on pullbacks being limited ahead of trendline support. The trendline is
drawn off the Jul 12 low and intersects at 176.48 today. A break would open the
potential for a deeper pullback. On the upside, gains above 177.74 would instead
mark a resumption of the uptrend.

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