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(Z9) Bearish Conditions Dominate *RES....>

BUND TECHS
BUND TECHS: (Z9) Bearish Conditions Dominate
*RES 4: 172.29 High Oct 16
*RES 3: 172.03 High Oct 31 and key resistance
*RES 2: 171.47 High Nov 4
*RES 1: 170.97 High Nov 7 and congestive resistance
*PRICE: 169.66 @ 04:43 GMT Nov 12
*SUP 1: 169.12 Low Nov 8
*SUP 2: 168.53 Projected channel base drawn off Sep 3 high
*SUP 3: 168.50 1.382 projection of Sep 3 - Sep 13 decline from Sep 25 high
*SUP 4: 167.97 1.500 projection of Sep 3 - Sep 13 decline from Sep 25 high
Z9 Bund was softer yesterday and remains bearish. Price action last week
confirmed once again a resumption of the downtrend that has been in place since
Sep 3. Furthermore, price activity maintains a clear sequence of lower lows and
lower highs, reinforcing the current directional conditions. The focus is on
the168.53/50 level next. This marks the base of a channel drawn off Sep 3 high
and a Fibonacci projection level. Resistance is at 170.97.

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