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(U18) Loss Of 119-265 Sees.....>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (U18) Loss Of 119-265 Sees End To Recent Range Trading
*RES 4: 120-185 76.4% Fibo of 121-030/118-295
*RES 3: 120-135/150 Jul 5, Jun 28 & May 31 highs
*RES 2: 120-035 Jul 23 high
*RES 1: 119-300 Hourly resistance
*PRICE: 119-215 @0946GMT
*SUP 1: 119-125/135 Jul 24, Jun 21 lows
*SUP 2: 119-105 76.4% Fibo of 118-295/120-200
*SUP 3: 118-295 Jun 13 low
*SUP 4: 118-255 1% volatility band
*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 119-135/119-105 fall,
as retracements of those gains from 118-295 begin to bite. On the topside, a
move back above 119-300 would assist but yesterday's 120-035 high presents a
tougher proposition. Below 119-105 and the June low at 118-295 beckons.

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