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(U18) Descent Held By 76.4%....>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (U18) Descent Held By 76.4% Fibo Retrace Level
*RES 4: 120-135/150 Jul 5, Jun 28 & May 31 highs
*RES 3: 120-080 Jul 17, Jul 18 highs
*RES 2: 119-320 Jul 10, Jul 16 lows, now resistance
*RES 1: 119-225 Jul 25 high
*PRICE: 119-130 @1050GMT
*SUP 1: 119-105 76.4% Fibo of 118-295/120-200
*SUP 2: 119-060 Jun 14 low
*SUP 3: 118-295 Jun 13 low
*SUP 4: 118-215/225 1% volatility band, 76.4% 117-300/121-030
*COMMENTARY* The recovery from last month's dip to 118-295 has so far been
capped by 120-145. The subsequent pullback has now broken below 119-300/119-265
support. Loss of the latter cautions and suggests a deeper 119-105 fall, as
retracements of those gains from 118-295 begin to bite. On the topside, a move
back above 119-225/119-320 would assist. Below 119-105 and minor support from
119-060 protects the June low at 118-295.

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