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Free Access10-YEAR YIELD TECHS: Bearish Trend Developing....>
US: 10-YEAR YIELD TECHS: Bearish Trend Developing
*RES 4: 3.1070 50-dma
*RES 3: 3.0416 50% 3.2594-2.8237
*RES 2: 3.0182 100-dma
*RES 1: 2.9565 200-dma
*PRICE: 2.8845 @ 10:47 GMT, Dec 7
*SUP 1: 2.8237 Dec 6 low
*SUP 2: 2.8063 Aug 22 low, top bottom target
*SUP 3: 2.7838 38.2% 2.0144-3.2594
*SUP 4: 2.7594 Low May 30
Yields broke below uptrend support from the April low at 2.8660 yesterday,
touched extended pullback lows of 2.8237 before fading. Despite this the bearish
trend remains intact with next downside focus on the Aug 22 low at 2.8063, which
coincides with the measured move from the double top formation. Bulls initially
need to recover the 200-dma at 2.9565 before targeting a break back above 3.00.
The 100-dma is placed behind at 3.0182, ahead of the 50% retracement at 3.0416.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.