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Press Conference Begins

COPPER TECHS

(N1) Still Heading North

US
US: 10-YEAR YIELD TECHS: Downtrend Resumed
*RES 4: 3.4508 Apr 18 2011 high
*RES 3: 3.3956 Apr 5 2011 low, now resistance
*RES 2: 3.3000 Channel top from Dec 2016 high
*RES 1: 3.2594 Oct 9 High
*PRICE: 3.1397 @ 16:13 GMT, Nov 14
*SUP 1: 3.0482 Low Oct 3
*SUP 2: 3.0139 Aug 1 high, now support
*SUP 3: 2.9421 200-dma
*SUP 4: 2.8098 Low Aug 24
Despite a short-lived mid-afternoon rally, 10-year yields resumed the recent
downtrend Wednesday with near-term support at 3.1012/3.0864 from the 50-dma &
38.2% retracement of 2.8063-3.2594. The potential of a double top formation
would gain credence on a break below the Oct 26 low at 3.0549. Bulls need to
break above the Oct 9 high at 3.2594 to reignite positive momentum and open
channel top resistance at 3.30.