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(Z9) Softer within the range *RES 4:.....>

BUND TECHS
BUND TECHS: (Z9) Softer within the range
*RES 4: 177.92 2.00 projection of Jul 12 - Jul 25 rally from Jul 25 low
*RES 3: 177.00 Round number resistance
*RES 2: 176.86 Contract high, Sep 3
*RES 1: 176.17 High Sep 4
*PRICE: 175.22 @ 03:07 GMT Sep 5
*SUP 1: 174.96 Intraday low
*SUP 2: 174.68 Low Aug 23 and bear trigger
*SUP 3: 174.51 Low Aug 13
*SUP 4: 174.34 Low Aug 12
Z9 Bund faced selling pressure yesterday & this has also been the case
overnight. The uptrend has not made any significant progress since Aug 15
despite a contract high Tuesday at 176.86. The consolidation that has unfolded
highlights key support at 174.86, the Aug 23 low. As long as prices remain above
it, the consolidation is viewed as a pause in the trend. A break though would
highlight a reversal & the start of a correction. The bull trigger is at 176.86.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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