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(Z17) 162.33-162.25 Protects Against.....>

BUND TECHS
BUND TECHS: (Z17) 162.33-162.25 Protects Against Deeper Correction
*RES 4: 163.53 1% volatility band
*RES 3: 163.43 Sep 8 high
*RES 2: 163.05 6 week bull channel top projection
*RES 1: 162.78/83 Oct 17, intraday highs
*PRICE: 162.70 @1555GMT                                   
*SUP 1: 162.25/33 Oct 30 low, hourly support
*SUP 2: 162.00 Oct 26 high, now support
*SUP 3: 161.63 Oct 27 low
*SUP 4: 161.24 Initial rally high Oct 26, now support
*COMMENTARY* Rally continues, moving slightly above the Oct 17 high to reach
162.83 today. Subsequently succumbing to some near term overbought conditions,
which see 162.33-162.25 as initial support. A hold above the latter is required,
in order to retain recent upside momentum and stave off a deeper correction of
recent gains from last week's 160.76 base. Directly above 162.83 and the 6 week
bull channel projection at 163.05 is then the bar to a 163.43-163.53 rise.

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