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(M18) Spikes Capped Around......>
US 5YR FUTURE TECHS: (M18) Spikes Capped Around 21-DMA
*RES 4: 113-22+ Daily Bear channel top off Apr high
*RES 3: 113-17+ High May 7
*RES 2: 113-14+ 21-DMA
*RES 1: 113-11+ Alternating hourly support/resistance
*PRICE: 113-08+ @ 0930GMT
*SUP 1: 113-07+ Low May 4
*SUP 2: 113-06+ 2018 Low Apr 25
*SUP 3: 113-01+ Monthly Low Nov 2008
*SUP 4: 112-24+ Daily Bear channel base
*COMMENTARY: Bears take comfort as pressure remains on 2018 lows. Bears look for
a close below 113-06+ to initially pressure 112-25+/113-01+ where Nov 2008
monthly lows and the bear channel base are noted. Follow through on pops above
the 21-DMA remains lacking. Bulls now need a close above 113-17+ to ease bearish
pressure although layers of resistance 113-22+/114-04 remain an issue.
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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.