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(Z9) Path Of Least Resistance Still......>

BUND TECHS
BUND TECHS: (Z9) Path Of Least Resistance Still Down
*RES 4: 172.29 High Oct 16
*RES 3: 172.03 High Oct 31 and key resistance
*RES 2: 171.47 High Nov 4
*RES 1: 170.97 High Nov 7 and congestive resistance
*PRICE: 169.73 @ 04:44 GMT Nov 11
*SUP 1: 169.12 Low Nov 8
*SUP 2: 168.62 Projected channel base drawn off Sep 3 high
*SUP 3: 168.50 1.382 projection of Sep 3 - Sep 13 decline from Sep 25 high
*SUP 4: 167.97 1.500 projection of Sep 3 - Sep 13 decline from Sep 25 high
The underlying trend in the Z9 Bund remains bearish. Price action last week
confirmed once again a resumption of the downtrend that has been in place since
Sep 3. The recent attempt to clear the 172.00 handle failed and this weighed on
market sentiment. Furthermore, price activity maintains a clear sequence of
lower lows and lower highs, reinforcing current directional conditions. The
focus is on the168.62/50 level next. Resistance is at 170.97.

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