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(Z9) Focus Remains On Channel Top *RES...>

BUND TECHS: (Z9) Focus Remains On Channel Top
*RES 4: 172.82 High Oct 15
*RES 3: 172.03 High Oct 31 and key resistance
*RES 2: 171.68 Channel resistance drawn off the Sep 3 high
*RES 1: 171.56 High Nov 20
*PRICE: 171.04 @ 05:40 GMT Nov 26
*SUP 1: 170.31 Low Nov 22
*SUP 2: 169.67 Low Nov 13
*SUP 3: 169.12 Low Nov 8 and bear trigger
*SUP 4: 168.50 1.382 projection of Sep 3 - Sep 13 decline from Sep 25 high
Z9 Bund has had a quiet start to the week following Friday's rebound. While
Friday's activity is potentially a bullish sign, in order to signal scope for a
stronger recovery prices need to clear 171.56, Nov 20 high and more importantly
171.68, the bear channel resistance drawn off the Sep 3 high. Clearance would
signal a reversal. Note, bearish candle patterns confirmed last week, continue
to play a role in highlighting a top. A move below 170.31 low would be bearish.

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