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(U9) Corrective cycle still in play......>

BUND TECHS
BUND TECHS: (U9) Corrective cycle still in play
*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: 179.21 Intraday high
*PRICE: 178.86 @ 03:15 GMT Aug 26
*SUP 1: 177.48 Low Aug 23
*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 reversed direction Friday registering strong gains. It is too early
however to determine whether this marks an end to the recent correction. Last
Thursday confirmed a trendline break and with momentum studies just beginning to
unwind their overbought condition, the potential for a continued move lower
remains intact. The focus is on the 176.45 Fibonacci level. Resistance is
179.19/21, Aug 20 high and intraday high. A break is required to open 179.66.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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