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BUND TECHS: (Z18) Downtrend Intact Despite Strong Close
*RES 4: 160.98 High Sep 3
*RES 3: 160.48 High Sep 6
*RES 2: 159.78 High Sep 12
*RES 1: 159.21 100-dma
*PREVIOUS CLOSE: 158.48
*SUP 1: 157.61 Low May 15 (continuation chart)
*SUP 2: 157.43 Low April 24 (continuation chart)
*SUP 3: 156.66 Low Mar 9 (continuation chart)
*SUP 4: 155.03 Low Dec 4, 2015 (continuation chart)
Early gains turned into renewed losses yesterday but bears were unable to push
back below 158.00 allowing bulls to close to day on a strong note. A break back
above yesterday's high at 158.78 is needed to stabilise the near-term outlook
and allow bulls to target the 100-dma at 159.21. A break above here would shift
the outlook neutral and open the Sep 12 high. Bears will look for a drop back
below 158.00 to target the May 15 low on the continuation chart.