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(Z9) Bear Trend Resumption *RES 4:.......>

BUND TECHS
BUND TECHS: (Z9) Bear Trend Resumption
*RES 4: 172.82 High Oct 15
*RES 3: 172.29 High Oct 16
*RES 2: 172.03 High Oct 31 and key resistance
*RES 1: 170.95 High Nov 5
*PRICE: 170.43 @ 04:48 GMT Nov 6
*SUP 1: 170.30 Low Nov 5
*SUP 2: 170.29 1.000 projection of Sep 3 - Sep 13 decline from Sep 25 high
*SUP 3: 170.00 Round number support
*SUP 4: 168.88 Projected channel base drawn off Sep 3 high
Z9 Bund retains a bearish theme following yesterday's extension lower that
resulted in a break of key support at 170.56, Oct 28 low and the recent bear
trigger. This confirms a resumption of the underlying downtrend paving the way
for a test of the 170.29 Fibonacci projection next. Further out, scope is seen
for weakness towards 168.88, the projected channel base drawn off Sep 3 high.
Initial resistance is at 170.95, yesterday's high.

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