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(H18) Decline Moves Below.......>
US 5YR FUTURE TECHS: (H18) Decline Moves Below 114-252, Channel Base Next
*RES 4: 115-142 Hourly high Jan 17
*RES 3: 115-092 Jan 23 high
*RES 2: 115-045 Hourly congestion area Jan 24-26
*RES 1: 114-320 Jan 21 low, now resistance
*PRICE: 114-235 @1204GMT
*SUP 1: 114-205 4 month bear channel base projection
*SUP 2: 114-100 Apr 12 2010 low
*SUP 3: 113-315 1% volatility band
*SUP 4: 113-280 Apr 5 2010 low
*COMMENTARY* The descent continues, most latterly through both the 10 week bear
channel base and the 61.8% Fibo retrace level, both at 114-252 today. Next up is
the 4 month bear channel base projection, at 114-205 by time today.
Consequently, resistance also falls, the jan 21 low at 114-230 now acting as an
initial bar to gains, the 115-045/115-092 region higher. Beneath 114-205 and the
Apr 12 2010 low at 114-100 protects the lower 1% volatility band.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.