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Bearish Trend Intact *RES 4:...>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: Bearish Trend Intact
*RES 4: 120-18  Descending trendline (off May and Aug highs)u
*RES 3: 119-27  Former range top (Jul/Aug)
*RES 2: 119-25  100-DMA
*RES 1: 119-11+ Ascending Trendline (off May and Aug lows)
*PRICE: 118-22  @ 09:30 GMT, Sep 19
*SUP 1: 117-29+ April 2011 low (Continuous contract)
*SUP 2: 117-22  February 2011 low (Continuous contract)
*SUP 3: 117-05+ 76.4% Retracement of 111-12+ to 135-29
*SUP 4: 115-46  61.8% Retracement of 103-20+ to 135-29
Recovery efforts lack momentum, suggesting the recent downtrend is set to
continue. The 10-Yr future touched multi-year lows of 118-20 with bears focus
turning towards the April 2011 low (Continuous contract) at 117-29+, ahead of
the Feb 2011 low (Continuous contract) at 117-22. Bulls initially need to
reclaim the 100-DMA at 119-25, before challenging descending trendline
resistance at 120-18.

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