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(U9) Trendline support still key for.....>

BUND TECHS
BUND TECHS: (U9) Trendline support still key for bulls
*RES 4: 175.00 Round number resistance
*RES 3: 174.88 Bull channel top drawn off the May 3 low
*RES 2: 174.72 1.00 Fibonacci ratio of Apr 30-May 15 rally off Jun 27 low
*RES 1: 174.05/06 High Jul 4/0.764 ratio of Apr 30-May 15 rally from Jun 27 low
*PRICE: 173.33 @ 02:42 GMT July 9
*SUP 1: 173.19/72.99 Trendline support drawn off May 3 low / Low Jul 5
*SUP 2: 172.46 Jun 28 low
*SUP 3: 171.92 Low Jun 27 and major support
*SUP 4: 171.63 Broader trendline support drawn off the Apr 17 low
U9 Bund has started off the week in a more consolidative manner after Friday's
sell-off. For now, the trend remains bullish with the contract trading just
ahead of trendline support at 173.19 today. While the trendline holds, the
underlying bullish conditions remain in place, but a break and daily close below
would be a concern for bulls. This would also highlight Friday's price action as
a potential threat to the trend in the shape of a bearish engulfing candle.

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