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(U9) Correction not over yet *RES 4:.....>

BUND TECHS
BUND TECHS: (U9) Correction not over yet
*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: 179.03 @ 02:42 GMT Aug 28
*SUP 1: 178.22 Low Aug 26
*SUP 2: 177.48 Low Aug 23 and bear trigger
*SUP 3: 176.96 Low Aug 9
*SUP 4: 176.45 38.2% retracement of Jul 12-Aug 15 rally
U9 Bund was firmer yesterday however prices remain below initial resistance at
179.19/21, the Aug 20 and 26 high. Until this area is cleared, there remains a
stronger likelihood the market will correct lower. Last Thursday confirmed a
trendline break and momentum studies are beginning to unwind their overbought
condition, highlighting a bearish outlook. The focus is on the 176.45 Fibonacci
level. A break of 179.19/21 would open 179.66, the key bull trigger.

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