(Z9) Bounce Is Corrective *RES 4:........>

BUND TECHS: (Z9) Bounce Is Corrective

*RES 4: 172.82 High Oct 15

*RES 3: 172.29 High Oct 16

*RES 2: 171.96 High Oct 24 and key near-term resistance

*RES 1: 171.35 High Oct 28

*PRICE: 171.13 @ 04:42 GMT Oct 30

*SUP 1: 170.43 2.618 projection of Sep 25 - Oct 1 decline from Oct 3 high

*SUP 2: 170.29 1.000 projection of Sep 3 - Sep 13 decline from Sep 25 high

*SUP 4: 169.24 Bear channel base drawn off Sep 3 high

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

Z9 Bund recovered yesterday however despite this, the downtrend remains intact

following Monday's break of support at 170.73, Oct 17 low. The move lower

confirms bears remain in charge and maintains the bearish price sequence of

lower lows and lower highs. The focus is on 170.43 and 170.29, both Fibonacci

projection levels. Key resistance has been defined at 171.96, Oct 24 high. A

break here is required to signal a potential reversal.