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(M0) Consolidating But..........>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (M0) Consolidating But Remains Bullish
*RES 4: 126-132 3.382 Fibonacci projection of Jan 9 - 31 rally from Feb 6 low
*RES 3: 126-046 3.236 Fibonacci projection of Jan 9 - 31 rally from Feb 6 low
*RES 2: 126-00 Round number resistance
*RES 1: 125-29 Contract high May 8
*PRICE: 125-24+ @ 11:08 BST, May 15
*SUP 1: 125-06+ Low May 6 and key support
*SUP 2: 125-05+ Low Apr 27
*SUP 3: 124-202 Low Apr 7
*SUP 4: 124-186 Low Mar 25
5yr futures are unchanged and consolidating. Last week the contract traded
higher through 125-232, Apr 21 high to end the recent period of consolidation.
Furthermore, the May 8 high print of 125-29 was just above the former contract
high of 125-286 from Mar 9. The break higher confirms a resumption of the
uptrend and reinforces a bullish outlook. A break of 125-29 would open 126-00
and 126-046. The latter is a Fibonacci projection. 125-06+ marks support.

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