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(Z17) Pulling Back After Reaching Next...>

BUND TECHS
BUND TECHS: (Z17) Pulling Back After Reaching Next Fibo Retrace Target
*RES 4: 164.40 76.4% Fibo of 165.69-160.24
*RES 3: 164.27 Equality rise from 162.24 to 160.76-162.79
*RES 2: 163.85 Hourly resistance
*RES 1: 163.61/63 61.8% Fibo of 165.69-160.24, Nov 8 high
*PRICE: 163.27 @0735GMT                                   
*SUP 1: 163.10/20 Hourly support
*SUP 2: 162.83/95 Oct 31 high, hourly support
*SUP 3: 162.60 Hourly base Nov 2
*SUP 4: 162.24 Nov 2 low
*COMMENTARY* Rally continued on Wednesday, moving slightly through the 61.8%
Fibo retrace level, to reach a high of 163.63. Hourly studies are correcting
some overbought conditions, so not sure there is scope to move higher than this
as yet, especially given the 'shooting star' candle close on the daily chart.
Look to 163.10 initially and then 162.95-162.83 again for support. Loss of the
latter will incur deeper corrective potential.

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