Consolidating Trend *RES 4:.....>

US 5YR FUTURE TECHS: Consolidating Trend

*RES 4: 119-01+     Sep 8 2017 High

*RES 3: 118-302/31  Upper Bollinger Band (3%)/Sep 7 2017 high

*RES 2: 118-212     61.8% 122-28-111-26+

*RES 1: 118-12/13   Jul 3 high/Jun 25 high

*PRICE: 117-17      @ 10:16 BST, Jul 15

*SUP 1: 117-08+/037 Jun 11 low/50-dma

*SUP 2: 116-12      May 30 low

*SUP 3: 116-052     100-dma

*SUP 4: 115-032     50% 111-26+-118-13

Bullish exhaustion ahead of 118-00 last week, resulted in a minor correction to

117-12. Consolidation has largely remained the theme with bears targeting a

break of the 50-dma at 117-037. A close below changes the short-term outlook,

opening a deeper correction toward the 100-dma & May 23 low at 116.052/00. Bulls

need to recover 118-00, before returning upside focus to the 118-10/15 area

which has so far proved hard to overcome.