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US 5YR FUTURE TECHS: (M9) Close Above Trendline Looks Bullish
*RES 3: 118-00/05 Series of prev lows Jun/Dec 2015
*RES 2: 117-11+ 50% 122-28+-111-26+
*RES 1: 116-142/15+ Mar 27 high/ Mar 10 2017 low
*PRICE: 115-137 @ 11:02 GMT, Apr 24
*SUP 1: 114-20/042 100-dma/50% 111-26+-116-142
*SUP 2: 113-237 200-dma
*SUP 3: 112.20/25 Series of previous lows
5-year futures finished well on Tuesday, closing above the downtrendline drawn
from the March highs and added to gains throughout the Wednesday session. The
moves in US fixed income markets come despite US equities once again nearing
alltime highs, suggesting bonds' sensitivity to gains in stock markets is
relatively low at present. The Mar 27 high is the first near-term level of
resistance at 116-142 and a break above here opens key Fib resistance at
117-11+. Bears need a close back under 115-00 to put downside focus on the
100-dma & 50% retracement level at 114-20/042, ahead of the 200-dma at 113-237.
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