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(Z9) Sharp Slide *RES 4: 172.29 High.....>

BUND TECHS
BUND TECHS: (Z9) Sharp Slide
*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: 169.53 @ 04:37 GMT Nov 8
*SUP 1: 169.17 Low Nov 7
*SUP 2: 168.71 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
Z9 Bund sold off sharply yesterday. The bearish price action confirmed once
again a resumption of the downtrend that has been in place since Sep 3. An
attempt last week to clear the 172.00 handle failed and this continues to weigh
technically. A number of key supports have been cleared, the most recent being
170.29, a Fibonacci projection. The focus shifts to 168.71 and 168.50 next. On
the upside, congestive resistance has been defined at 170.97.

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