(Z9) Bearish Candle Patterns *RES 4:.....>

BUND TECHS: (Z9) Bearish Candle Patterns

*RES 4: 172.82 High Oct 15

*RES 3: 172.03 High Oct 31 and key resistance

*RES 2: 171.89 Channel resistance drawn off the Sep 3 high

*RES 1: 171.56 High Nov 20

*PRICE: 170.55 @ 05:45 GMT Nov 22

*SUP 1: 170.26 Low Nov 14

*SUP 2: 169.67 Low Nov 13

*SUP 3: 169.12 Low Nov 8 and bear trigger

*SUP 4: 168.50 1.382 projection of Sep 3 - Sep 13 decline from Sep 25 high

Z9 Bund stalled yesterday. From a pattern perspective, the past two sessions

highlight a bearish development. Two important Japanese candle patterns have

been confirmed, a shooting star Wednesday and yesterday a bearish engulfing

reversal. These have occurred ahead of the bear channel resistance at 171.89

that remains intact. The channel is drawn off the Sep 3 high. Unless price can

clear 171.89, futures are now seen likely to remain vulnerable.