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(U18) Correction Approaches....>
US 10YR FUTURE TECHS: (U18) Correction Approaches 119-045 Fibo Support
*RES 4: 120-070/080 Congestion area May 31-Jun 1
*RES 3: 119-295 May 30 low, now resistance
*RES 2: 119-210 Jun 6 high
*RES 1: 119-135 Jun 4 low, now resistance
*PRICE: 119-045 @1027GMT
*SUP 1: 119-045 61.8% Fibo of 117-300/121-030
*SUP 2: 118-300 May 24 low
*SUP 3: 118-215 76.4% Fibo of 117-300/121-030
*SUP 4: 118-170 1% volatility band
*COMMENTARY* The recovery since the dip to 117-300 on May 17, resulted in a
sharp spike higher to 121-030 last week. Has subsequently seen a decent
pullback, as a result of some considerably overbought conditions. Now nearing
119-045, a 61.8% Fibo retrace of those gains, any lower and the May 24 low at
118-300 comes into play next. First resistance of note comes from the Jun 4 low
at 119-135, back above here required before any respite likely.
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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.