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(Z9) Volatile, bears win! *RES 4:........>

BUND TECHS
BUND TECHS: (Z9) Volatile, bears win!
*RES 4: 176.86 Contract high, Sep 3
*RES 3: 176.17 High Sep 4
*RES 2: 175.76 High Sep 5
*RES 1: 175.62 High Sep 12
*PRICE: 173.36 @ 02:29 GMT Sep 13
*SUP 1: 173.52/23 50-day EMA / Low Sep 12
*SUP 2: 172.76 50.0% of the rally between Jul 12 - Sep 3 / Low Aug 8
*SUP 3: 172.50 Double top projection
*SUP 4: 172.11 High Jul 25
Z9 Bund was very volatile yesterday post ECB. The sharp rejection off the days
high maintains the bearish pressure that has been in place since Sep 3. Momentum
and S/T MA studies are bearish and the recent double top reversal continues to
weigh on sentiment. The next hurdle for bears is a clear break of the 50-day
EMA. This average provides broad support during a trend and a break would signal
scope for a deeper decline. Key resistance is yesterday's 175.62 high.

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