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(Z17) Bulls Need Close Above....>

US EURODOLLAR TECHS: (Z17) Bulls Need Close Above Channel Top
*RES 4: 98.545 - High Sept 20 
*RES 3: 98.525 - Repeated daily highs Sept 
*RES 2: 98.515 - 200-DMA 
*RES 1: 98.491 - Daily Bear channel top
*PRICE: 98.480 @ 0930GMT
*SUP 1: 98.470 - Low Apr 24
*SUP 2: 98.445 - Low Apr 10
*SUP 3: 98.425 - Low Mar 31
*SUP 4: 98.408 - Daily Bear channel base
*COMMENTARY: Despite the bounce from Friday's low the contract remains capped
ahead of the daily bear channel top with bulls needing a close above to ease
immediate bearish pressure and hint at a bounce back to 98.515-525 where the 21
& 200-DMAs are situated. Bears currently remain focused on 98.408-425 where the
daily bear channel base is noted and look for a close below 98.470 to add weight
to their case.

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