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(Z18) New Cycle Lows Keeps Focus Lower...>

BUND TECHS
BUND TECHS: (Z18) New Cycle Lows Keeps Focus Lower
*RES 4: 160.98 High Sep 3 
*RES 3: 160.48 High Sep 6 
*RES 2: 159.78 High Sep 12 
*RES 1: 159.16 100-dma 
*PREVIOUS CLOSE: 158.29 
*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)
Friday's rally was unable to continue into the start of this week as the failure
to overcome the 100-dma saw a downside reversal to new cycle lows. The next
downside target is the May 15 low on the continuation chart, below which lies
the ytd low of 156.66. Below here confirms a major bearish reversal. Bulls need
to overcome the 100-dma at 159.16 which is now acting as resistance ahead of a
potential return to the Sep 12 high at 159.78. 

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