###POV Bears Favour LT Bull....>

AUSSIE 10-YEAR TECHS: ###POV Bears Favour LT Bull Channel Break

BACKGROUND: Since trading at 2017 highs (97.675) Aus 10yr futures have struggled

to gain topside momentum with pressure having returned to the 96.9650-9820

region where 2017 lows, Dec 216 monthly lows and the weekly bull channel base

off 2008 lows are noted. Weekly studies approaching O/S are the key concern for

LT bears.

WHAT NOW: LT bears now look for a close below 96.9650 to confirm a break

of the LT bull channel base and hint at a move back to 95.5900 2013 lows with a

close below 96.5950 (Oct 2014 weekly low) to add weight to their case.

Consolidation below the 200-WMA (97.2492) also adds to bearish confidence.

VIEW NEGATED: Layers of key resistance remain a concern for LT bulls who now

look for a close above the 200-WMA to ease LT bearish pressure. Overall a close

above 2017 highs is needed to end bearish hopes and shift LT focus back to tests

of 2016 highs (98.2000).

- Click for chart https://tinyurl.com/yd57x3j8