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(H0) Bounces Off Key Support...>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (H0) Bounces Off Key Support
*RES 4: 130-17+ High Nov 1
*RES 3: 130-04+ High Dec 3
*RES 2: 129-14 High Dec 12 and near-term bull trigger
*RES 1: 129-02 High Dec 13
*PRICE: 128-07 @ 16:17 GMT, Dec 19
*SUP 1: 127-29 Low Dec 13 and bear trigger
*SUP 2: 127-18+ 1.618 projection of the Oct 3 to Nov 7 low from Dec 3 high
*SUP 3: 127-00 Round number support
*SUP 4: 126-31+ 1.764 projection of the Oct 3 to Nov 7 low from Dec 3 high
Having continued to retrace back into the Dec 13 range for much of the Thursday
session, bulls will have taken confidence from the bounce of key support at
127-29, avoiding a fall through the bear trigger. For the time being then, the
outlook remains somewhat neutral. A fall through 127-29 indicates a resumption
of the downtrend and opens 127-18+, a Fibonacci projection and the 127-00 level.
Clearance of 129-14, Dec 12 high is needed to reverse the outlook.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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