10-YEAR YIELD TECHS: Fibo Back in Focus *RES.....>

US: 10-YEAR YIELD TECHS: Fibo Back in Focus

*RES 3: 3.3000 Channel top from Dec 2016 high

*RES 2: 3.2594 Oct 9 High

*RES 1: 3.1525 23.6% 2.8063-3.2594

*PRICE: 3.0665 @ 16:06 GMT, Nov 19

*SUP 1: 3.0445 Oct2 Low

*SUP 2: 3.0329 50% 2.8063-3.2594

*SUP 3: 2.9794 61.8% 2.8063-3.2594

10-year yields briefly dipped below their Oct 26 lows in Asian trading but a

close below here is needed to suggest a double top is forming. At the time of

writing, markets sit at the 38.2% retracement of 2.8063-3.2594 with a close

above here keeping the technical outlook in a neutral position. For a sustained

move higher in yields, markets need to break above the Oct 9 high at 3.2594 and

open channel top resistance at 3.30. For yields to fall further, markets

initially need to break the 50% and 61.8% retracements from mid-August lows to

October highs, which both come in ahead of the 200-dma at 2.9472.