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Free Access10-YEAR YIELD TECHS: On Verge Of Breaking........>
US: 10-YEAR YIELD TECHS: On Verge Of Breaking Higher
*RES 4: 3.2206 July 2011 high
*RES 3: 3.1261 High May 18
*RES 2: 3.0139 High Aug 1
*RES 1: 2.9579 Triangle top from May high
*PRICE: 2.9553 @ 10:23 GMT, 11 Sep
*SUP 1: 2.9211 100-DMA
*SUP 2: 2.8608 50.0% 2.8063-2.9189
*SUP 3: 2.8296 Aug 31 low
*SUP 4: 2.8169 Triangle bottom from April low
The push higher beginning with Aug 31's daily bullish reversal has propelled the
10-Yr yield to currently test the triangle top at 2.9579. Given little
short-term resistance above there, a break would encourage bulls to look for a
further move to big round numbers (3.0000 first up) and well into the 3.000s,
beginning with the Aug 1 high of 3.0139. The 2.9000-2.9200 area, formerly
resistance, now forms immediate support.
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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.