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(Z17) Recovering Well After 160.49-50....>

BUND TECHS
BUND TECHS: (Z17) Recovering Well After 160.49-50 Held Last Week's Fall
*RES 4: 162.98 1% volatility band
*RES 3: 162.78 76.4% Fibo of 163.43-160.66
*RES 2: 162.37 61.8% Fibo of 163.43-160.66
*RES 1: 162.05 Sep 14 high
*PRICE: 161.90 @1540GMT                                   
*SUP 1: 161.41/50 Sep 20 high, hourly support
*SUP 2: 161.12 Intraday low
*SUP 3: 160.88 Sep 22 low
*SUP 4: 160.66 Sep 21 low
*COMMENTARY* Key support from above 160.49-50 managed to hold last week, a low
of 160.66, before staging a recovery. This has been exacerbated today, by the
rise through last week's 161.41 range top. The Sep 14 high at 162.05 now the
focus, as we claw back losses from the month's earlier 163.43 high. Through here
and the higher Fibo retraces at 162.37 and 162.78 then come into play. Support
rises accordingly, 161.50-161.41 the immediate downside protection.

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