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(Z18) Stability Ahead Of Aug 1 Low.......>

BUND TECHS
BUND TECHS: (Z18) Stability Ahead Of Aug 1 Low
*RES 4: 160.98 High Sep 3 
*RES 3: 160.48 High Sep 6 
*RES 2: 159.78 High Sep 12
*RES 1: 159.12 100-dma
*PREVIOUS CLOSE: 158.86 
*SUP 1: 158.37 Low Aug 1 
*SUP 2: 157.17 Low June 14 
*SUP 3: 156.90 Low June 12 
*SUP 4: 154.70 Low May 17 
Dec-18 Bund futures clawed back early losses yesterday to close up for only the
second time in 10 sessions, giving bulls some hope of a bounce ahead of the Aug
1 lows at 158.37. That said, the bearish trend remains intact and a break below
the Aug 1 low would suggest a further medium-term weakness. Bulls need a break
above the 100-dma at 159.10 to target the Sep 12 high at 159.79 to return the
outlook positive.

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