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(Z9) Trading Close To Channel............>

BUND TECHS
BUND TECHS: (Z9) Trading Close To Channel Resistance
*RES 4: 172.82 High Oct 15
*RES 3: 172.03 High Oct 31 and key resistance
*RES 2: 171.97 Channel resistance drawn off the Sep 3 high
*RES 1: 171.56 High Nov 20
*PRICE: 171.16 @ 05:35 GMT Nov 21
*SUP 1: 170.55 Low Nov 18
*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 was firmer yesterday however prices did find strong resistance at the
day high. The focus for now is on the upside following recent gains with
attention on resistance at 172.03, Oct 31 high. Note, the top of a bear channel
drawn off the Sep 3 high intersects at 171.97. This 171.97-172.03 zone marks a
key resistance and while it holds, the broader trend remains down with recent
gains still viewed as a correction. Initial support lies at 170.55, Nov 18 low.

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