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(H0) Downside Risk Still.......>

US 30YR FUTURE TECHS
US 30YR FUTURE TECHS: (H0) Downside Risk Still Present
*RES 4: 160-26 High Oct 31
*RES 3: 160-13 High Dec 3 and bull trigger
*RES 2: 159-05 High Dec 5
*RES 1: 159-02 High Dec 11
*PRICE: 158-18 @ 11:37 GMT, Dec 12
*SUP 1: 157-05 Low Dec 6
*SUP 2: 157-02 Low Nov 18 and 61.8% of the Nov 7 to Dec 3 rally
*SUP 3: 156-14 Low Nov 14
*SUP 4: 156-09 76.4% retracement of the Nov 7 to Dec 3 rally
30yr futures were firmer again yesterday but remain below 159-05, Dec 5 high.
The near-term outlook is unchanged and still bearish though. Futures traded
lower last week to 157-05 and just below the Dec 2 low of 157-06. This leaves
the risk skewed to the downside. A break of 157-05 would open the 61.8%
retracement of the Nov 7 to Dec 3 rally at 157-02. A breach here would expose
156-09, the 76.4% retracement. 159-05 is resistance.

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