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(Z17) 162.23-162.30 Resistance As........>

BUND TECHS
BUND TECHS: (Z17) 162.23-162.30 Resistance As Recovery Continues
*RES 4: 162.78 Oct 17 high
*RES 3: 162.56 Oct 19 high
*RES 2: 162.30 76.4% Fibo of 162.78-160.76
*RES 1: 162.23 1.618 swing of 162.00-161.63
*PRICE: 161.96 @0839GMT                                   
*SUP 1: 161.60/63 Hourly support, intraday low
*SUP 2: 161.28 Initial recovery high Oct 26, now support
*SUP 3: 161.08 Hourly congestion area Oct 24-25
*SUP 4: 160.95 Oct 26 low
*COMMENTARY* Wednesday saw a brief spike below the 76.4% Fibo retrace level at
160.84, to a low of 160.76, before recovering slightly on the back of some near
term oversold conditions. This then exacerbated on Thursday by the further rise
through 161.35 resistance. This has opened the way for a correction of recent
losses from the month's 162.78 high. Further move above 161.78 now leaves
162.23-162.30 as a potential barrier above. Support now from 161.60.

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