(Z9) Bearish Pressure Returns *RES 4:....>

BUND TECHS: (Z9) Bearish Pressure Returns

*RES 4: 174.97 High Sep 25 and bull trigger

*RES 3: 174.78 High Oct 3

*RES 2: 174.14 Low Oct 1 and former breakout point

*RES 1: 173.31 High Oct 10

*PRICE: 172.58 @ 03:57 GMT Oct 11

*SUP 1: 172.57 Low Oct 10

*SUP 2: 172.18 Low Sep 13 and key support

*SUP 3: 172.00 Round number support

*SUP 4: 171.46 2.00 projection of Sep 25 - Oct 1 decline from Oct 3 high

Z9 Bund sold off sharply yesterday clearing the former support at 173.31/29, Oct

1 and 20 lows. The break of this support confirms the end of the recovery that

has been in place since Sep 13. Furthermore, it also indicates the move higher

was a correction leaving the key support at 172.18 exposed, Oct 13 low. Bearish

pressure is likely to dominate near-term. A break of 172.18 would open 171.46, a

Fibonacci projection. 173.31 marks initial resistance.