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10-YEAR YIELD TECHS: Recovery Gains Traction.....>

US
US: 10-YEAR YIELD TECHS: Recovery Gains Traction
*RES 4: 3.2400 Channel top
*RES 3: 3.2206 July 2011
*RES 2: 3.1261 May 18 high
*RES 1: 3.1113 Sep 25 high
*PRICE: 3.0873 @09:30 GMT, Oct 1
*SUP 1: 3.0139 Aug 1 high, now support
*SUP 2: 2.9588 50% 2.8063-3.1113
*SUP 3: 2.9465 Triangle top from May high
*SUP 4: 2.9293 100-DMA
10-year yields encountered support on Friday ahead of the Aug 1 high to keep the
bigger picture bullish trend intact. As the recovery gains traction, bulls
target a break of the May 18 high at 3.1261 to accelerate the move, above here
opens the multi-year highs at 3.2206. Bears need a break of 3.0139 to shift
focus to the downside, below here opens the 50% retracement & triangle top off
May highs at 2.9588/2.9465.

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