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(Z9) Consolidates but remains bearish....>

BUND TECHS
BUND TECHS: (Z9) Consolidates but remains bearish
*RES 4: 175.62 High Sep 12
*RES 3: 175.09 Trendline resistance drawn off the Sep 3 high
*RES 2: 174.00 Round number resistance
*RES 1: 173.63 High Sep13
*PRICE: 172.72 @ 03:38 GMT Sep 18
*SUP 1: 172.18 Low Sep 13
*SUP 2: 172.00 Round number support
*SUP 3: 171.79 61.8% retracement of Jul 12 - Sep 3 rally
*SUP 4: 171.18 1.382 projection of Sep 3 - Sep 11 decline from Sep 12 high
No change in Z9 Bund as consolidation dominates for now. The outlook remains
bearish though following the steep sell-off last week, a move that confirmed a
downtrend condition. Moving average and momentum studies remain in bear mode
reinforcing the current downward cycle. The focus is on the 61.8% retracement of
the rally between Jul 12 - Sep 3 at 171.79. This level is also seen as the next
crucial support. Resistance for now remains 173.63.

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