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(H18) Below 122-20 Targets.....>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (H18) Below 122-20 Targets 120-25+/121-22+
*RES 4: 123-17+ 21-DMA
*RES 3: 123-09  Hourly support Jan 9 now resistance
*RES 2: 123-05+ Highs Jan 11 & 16
*RES 1: 122-30  Hourly resistance Jan 17
*PRICE: 122-22 @ 2030GMT
*SUP 1: 122-20  2018 Low Jan 12
*SUP 2: 122-13+ Daily Bear channel base
*SUP 3: 121-22+ Monthly Low July 1 2011
*SUP 4: 120-25+ Low Apr 29 2011
*COMMENTARY: Recent 3+yr lows resulted in dips below the bear channel base
before finding support at 122-20+. Bears look for a close below 122-20+ to shift
focus to 120-25+/121-22+. The Bollinger base (122-21+) is a concern for bears
and limits follow through. Layers of resistance remain with bulls needing a
close above 123-09 to ease bearish pressure and above 123-20 to shift focus to
124-02+/13+ where a bear channel top and 55-DMA are noted.

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