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Failed Recovery, Downtrend......>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: Failed Recovery, Downtrend Resumes
*RES 4: 113-22    Top of Triangle beginning May
*RES 3: 113-10/13 100-DMA/50-DMA
*RES 2: 113-00    Bottom of Triangle beginning May
*RES 1: 112-74    50% 113-277-112.21
*PRICE: 112-217   @ 10:15 GMT, Sep 14
*SUP 1: 112-12+   June 2009 low (Continuous contract)
*SUP 2: 111-092   61.8% retracement from top of 102-26 / 125-00 range in 2007-18
*SUP 3: 109-257   Sep 30 2008 low
*SUP 4: 108-15    Lows of 2008
The 5-yr's failed recovery and subsequent reversal to multi year lows keeps the
downtrend intact. Bears look to support at 112-12+ from the June 2009 low
(Continuous contract), below here opens 111-092 61.8% retracement from top of
102-26 / 125-00 range in 2007-18. Bulls need to reclaim the 100-dma & Aug highs
to change the short-term outlook, before targeting triangle top resistance.

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