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(U9) Focus still on 179.66 *RES 4:.......>

BUND TECHS
BUND TECHS: (U9) Focus still on 179.66
*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: 179.46 High Aug 28
*PRICE: 179.12 @ 04:10 GMT Sep 2
*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 is unchanged, trading closer to the upper end of the consolidative range
that has developed since Aug 15. For now, the focus is on the 179.66 contract
high. Clearance of this level would confirm a resumption of the uptrend and open
the 180.05 Fibonacci projection. A move below 178.22, Aug 26 low and more
importantly 177.48, Aug 23 low is required to highlight a top. Momentum in this
instance would likely be bearish reinforcing any downside risk.
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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