10-YEAR YIELD TECHS: Double, Double, Top and.....>

US: 10-YEAR YIELD TECHS: Double, Double, Top and Tumble

*RES 3: 3.3000 Channel top from Dec 2016 high

*RES 2: 3.2594 Oct 9 High

*RES 1: 3.1145 50-dma

*PRICE: 3.0519 @ 16:27 GMT, Nov 20

*SUP 1: 3.0240 Sep 28 low

*SUP 2: 3.0046/08 Up trendline support from Sep 2017 lows/100-dma

*SUP 3: 2.9482 200-dma

10-year yields traded on the backfoot throughout the Tuesday session, despite a

modest recovery ahead of the close. Bears look to close below Oct 26 lows at

3.0549 to suggest a double top is forming. The projection from the double top

would set a target at 2.85%, just below the up trendline support from April

lows. First, we would need to break below the up trendline support from the Sep

2017 lows/the 100-dma which come in around 3.00%, below which would suggest the

broader trend is in favour of lower yields. For yields to move higher, markets

need to break the 50-dma to return focus to the recent cycle highs.