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Recovery Stalls, But Could Rally Further


(U2) Trend Needle Points North


(U2) Support Untested

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US TSYS: 10Y YIELD TECHS: Bullish Trend Intact
*RES 4: 3.6132 High April 2011
*RES 3: 3.3956 Apr 5 2011 low, now resistance
*RES 2: 3.3000 Channel top
*RES 1: 3.2594 High Oct 9
*PRICE: 3.1595 @ 16:41 GMT, Oct 15
*SUP 1: 3.1261 May 18 high, now support
*SUP 2: 3.1021 21-dma
*SUP 3: 3.0139 Aug 1 high, now support
*SUP 4: 2.9794 61.8% 2.8063-3.2594
The US 10-year consolidates either side of 3.1500 to keep the broader bullish
outlook intact. Monday price action provided little to deter the trend in either
direction. Bulls continue to target the Oct 9 high at 3.2598, above which would
extend the uptrend towards the channel top at 3.30. Bears need a break of
short-term up trendline support at 3.1309, below here opens a move toward the
3.05 level, ahead of the Aug 1 high at 3.0139.

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