(U9) Focus is on the contract high.......>

BUND TECHS: (U9) Focus is 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: 173.63 High Jul 18

*PRICE: 173.38 @ 02:42 GMT July 22

*SUP 1: 173.02 Low Jul 18

*SUP 2: 172.44 Low Jul 17

*SUP 3: 172.16 Low Jul 16

*SUP 4: 171.51 50-day EMA

U9 Bund remains firm following last weeks rally that began off the Jul 12 low of

71.25 low. This low was just ahead of the 50-day EMA, an average that highlights

where support in the uptrend potentially exists. This confirms the broader

uptrend remains intact. 172.95, 61.8% of the move between Jul 4-Jul 12 has also

been cleared. This was an important hurdle for bulls and the break reinforces

the bullish tone. Attention is on the 174.05 contract high. 173.02 is support.