(H18) Decline Moves Toward 4....>

US 5YR FUTURE TECHS: (H18) Decline Moves Toward 4 Month Bear Channel Base 

*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: 114-285 @1055GMT

*SUP 1: 114-195/217 4 month bear channel base, Jan 29 low

*SUP 2: 114-100 Apr 12 2010 low

*SUP 3: 113-300 1% volatility band

*SUP 4: 113-280 Apr 5 2010 low

*COMMENTARY* The descent continued, most latterly through both the 10 week bear

channel base and the 61.8% Fibo retrace level. A low of 114-217 seen on Monday.

Next up is the 4 month bear channel base projection, at 114-195 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 114-195 and the

Apr 12 2010 low at 114-100 protects the lower 1% volatility band.