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Pullback Considered Corrective


Corrective Cycle


Corrective Bounce


Short-Term Trend Needle Points South

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(Z17) Below 162.36 Confirms Focus On.....>

BUND TECHS: (Z17) Below 162.36 Confirms Focus On 161.49-162.03
*RES 4: 163.40 High Nov 9
*RES 3: 163.32 High Nov 28
*RES 2: 162.97 Hourly support Nov 28 now resistance
*RES 1: 162.71 Hourly support Nov 29 now resistance
*SUP 1: 162.36 Hourly support Nov 14
*SUP 2: 162.13 Bollinger band base
*SUP 3: 162.03 55-DMA
*SUP 4: 161.88 Daily Bull channel base off July 7 low
*COMMENTARY: Bears take comfort in the close below the shorter-term bull channel
base and 21-DMA (162.81) but still need a close below 162.36 to confirm focus on
161.49-162.03 where 55 & 100-DMAs and the longer term bull channel base are
found. Layers of resistance are building and weighing with bulls now needing a
close above 162.97 to return pressure to the key 162.32-63 resistance region.
Daily studies are now correcting from modestly O/B levels.

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