(H0) Gains Likely A.............>

US 5YR FUTURE TECHS: (H0) Gains Likely A Correction

*RES 4: 119-09+ 76.4% retracement of the Jan 8 - Jan 9 decline

*RES 3: 119-05 61.8% retracement of the Jan 8 - Jan 9 decline

*RES 2: 119-012 50.0% retracement of the Jan 8 - Jan 9 decline

*RES 1: 119-006 High Jan 15 and 16

*PRICE: 118-286 @ 11:08 GMT, Jan 20

*SUP 1: 118-236 Low Jan 17

*SUP 2: 118-176 Low Jan 9 and key near-term support

*SUP 3: 118-13 Low Dec 30

*SUP 4: 118-056 Low Dec 24

5yr futures last week found resistance at 119-006, Jan 15 and 16 high. Whether

recent gains are part of a stronger bull run is still too early to tell. The

sharp sell-off on Jan 8 weighs on sentiment and for now recent gains are

considered corrective. Further upside would open 119-012 and 119-05, the 50% and

61.8% levels of the Jan 8 - Jan 9 decline. A break of 119-05 is needed to signal

a stronger bullish outlook and open 119-166. Key support is at 118-176.