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(Z9) Heading South *RES 4: 174.78 High...>

BUND TECHS: (Z9) Heading South
*RES 4: 174.78 High Oct 3
*RES 3: 174.14 High Oct 10
*RES 2: 173.31 Low Oct 1 and former breakout point
*RES 1: 173.15 High Oct 11
*PRICE: 172.63 @ 02:50 GMT Oct 15
*SUP 1: 172.08 Low Oct 11
*SUP 2: 171.46 2.000 projection of Sep 25 - Oct 1 decline from Oct 3 high
*SUP 3: 171.00 Round number support
*SUP 4: 170.43 2.618 projection of Sep 25 - Oct 1 decline from Oct 3 high
Z9 Bund is consolidating. A bearish outlook remains in place following last
weeks sell-off and probe of support at 172.18, Sep 13 low. The print below this
level confirms a resumption of the bearish trend that started on Sep 3. With
momentum studies also pointing south, the focus is on 171.46, a Fibonacci
projection and 171.00. Initial resistance is at 173.15 and 173.31. A move above
the latter is required to ease the bearish threat.

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