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(Z9) Double top reversal *RES 4:.........>

BUND TECHS
BUND TECHS: (Z9) Double top reversal
*RES 4: 177.00 Round number resistance
*RES 3: 176.86 Contract high, Sep 3
*RES 2: 176.17 High Sep 4
*RES 1: 175.76 High Sep 5
*PRICE: 174.27 @ 02:47 GMT Sep 10
*SUP 1: 174.14 Low Sep 5
*SUP 2: 173.72/68 38.2% of the rally between Jul 12 - Sep 3 / Low Aug 8
*SUP 3: 173.68/46 Low Aug 5 / 50-day MA
*SUP 4: 172.76 50.0% of the rally between Jul 12 - Sep 3 / Low Aug 8
Z9 Bund negated Friday's bounce yesterday and price action remains below
resistance at 175.76, Thursday's high. Last weeks key technical development was
the confirmation of a double top following the break of 174.68, Aug 23 low and
confirms a shift in sentiment. Scope exists for a deeper correction with the
patterns price objective at 172.50. For this scenario to hold, prices need to
remain below 175.76. A break would expose the176.86 contract high.

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