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(Z9) Under pressure *RES 4: 175.62.......>

BUND TECHS
BUND TECHS: (Z9) Under pressure
*RES 4: 175.62 High Sep 12
*RES 3: 175.27 Trendline resistance drawn off the Sep 3 high
*RES 2: 174.00 Round number resistance
*RES 1: 173.63 High Sep13
*PRICE: 172.76 @ 03:22 GMT Sep 16
*SUP 1: 172.18 Low Sep 13
*SUP 2: 172.00 Round number support
*SUP 3: 171.79 61.8% retracement of Jul 12 - Sep 3 rally
*SUP 4: 171.18 1.382 projection of Sep 3 - Sep 11 decline from Sep 12 high
Z9 Bund sold off sharply Friday clearing a number of key supports along the way.
Key among these was the breach of support highlighted by the 50-day EMA at
173.52. The sharp sell-off follows Thursday's equally strong rejection of the
high and confirms for now, clear bearish sentiment. Price action is approaching
the 61.8% retracement of Jul 12 - Sep 3 rally which is seen as the next crucial
support. The outlook remains bearish, resistance is at 173.63.

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