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Fresh Bear Cycle Low

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Bullish Extension

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BUND TECHS
BUND TECHS: (Z9) Approaching 50-day EMA
*RES 4: 176.86 Contract high, Sep 3
*RES 3: 175.76 High Sep 5
*RES 2: 175.34 High Sep 6
*RES 1: 174.52 High Sep 10
*PRICE: 173.83 @ 02:40 GMT Sep 11
*SUP 1: 173.72/68 38.2% of the rally between Jul 12 - Sep 3 / Low Aug 8
*SUP 2: 173.68/48 Low Aug 5 / 50-day MA
*SUP 3: 172.76 50.0% of the rally between Jul 12 - Sep 3 / Low Aug 8
*SUP 4: 172.11 High Jul 25
Z9 Bund is softer with prices moving lower again yesterday. Last weeks key
technical development was the confirmation of a double top on the break of
174.68, Aug 23 low. This development continues to weigh with momentum studies
trending down too. Prices are trading just above the 38.2% retracement at 173.72
with the 50-day EMA at 173.48. This area marks a key support level. For now
though the trend is down while resistance at 175.34 remains intact.

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