(Z9) Closing In On The Channel Top.......>

BUND TECHS: (Z9) Closing In On The Channel Top

*RES 4: 173.15 High Oct 11

*RES 3: 172.82 High Oct 15

*RES 2: 172.03 High Oct 31 and key resistance

*RES 1: 171.56/57 High Nov 20 / Channel top drawn off the Sep 3 high

*PRICE: 171.38 @ 05:45 GMT Nov 27

*SUP 1: 170.88 Low Nov 26

*SUP 2: 170.31 Low Nov 22

*SUP 3: 169.67 Low Nov 13

*SUP 4: 169.12 Low Nov 8 and bear trigger

Z9 Bund was firmer Tuesday. Prices however remain below resistance at 171.56,

Nov 20 high and more importantly 171.57, the bear channel resistance drawn off

the Sep 3 high. A break of this resistance zone is required to highlight a

potential reversal and would open 172.03 initially, Oct 31 high. This would also

negate bearish candle patterns confirmed last week that continue to play a role

in highlighting a possible top. Key short-term support lies at 170.31.