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(M18) Bulls Need Close Above...>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (M18) Bulls Need Close Above 120-06+
*RES 4: 120-06+ High Apr 19
*RES 3: 120-04+ 55-DMA
*RES 2: 120-02+ Low Apr 18 now resistance
*RES 1: 119-19+ 21-DMA
*PRICE: 119-14 @ 0430GMT
*SUP 1: 119-06  Low May 9
*SUP 2: 118-31  2018 Low Apr 25
*SUP 3: 118-24  Low Apr 13 2011
*SUP 4: 117-29+ Monthly Low Apr 8 2011
*COMMENTARY: Follow through below 119-08 was lacking but bears take comfort in
the bounce remaining capped ahead of the 21-DMA. Bulls look for a close above
120-06+ to confirm breaks of 21 & 55-DMAs and to shift initial focus back to
120-20+/24. Bears now look for a close below 118-31 to add weight to the case
for a test of the weekly bear channel base coming in around 117-07+ today. Daily
studies are well placed for a fresh leg lower.

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