(Z9) Corrective Bounce *RES 4: 172.78....>

BUND TECHS: (Z9) Corrective Bounce

*RES 4: 172.78 Bear channel top drawn off Sep 3 high

*RES 3: 172.29 High Oct 16

*RES 2: 172.03 High Oct 31 and key resistance

*RES 1: 171.47 High Nov 4

*PRICE: 170.92 @ 04:42 GMT Nov 7

*SUP 1: 170.22 Low Nov 6

*SUP 2: 170.00 Round number support

*SUP 3: 169.19 1.236 projection of Sep 3 - Sep 13 decline from Sep 25 high

*SUP 4: 168.79 Projected channel base drawn off Sep 3 high

Z9 Bund retains a bearish theme despite yesterday's recovery. This follows the

sell-off earlier this week that resulted in a break of key support at 170.56,

Oct 28 low and the recent bear trigger. The break lower confirms a resumption of

the underlying downtrend. Attention is now on the 170.00 handle and 168.79, the

projected channel base drawn off Sep 3 high. Initial resistance is at 171.47,

Nov 4 high.