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(U9) 118 in the crosshairs......>

US 5YR FUTURE TECHS: (U9) 118 in the crosshairs
*RES 3: 118-212 61.8% 122-28-111-26+
*RES 2: 118-00/05 Series of prev lows Jun/Dec 2015
*RES 1: 118-012 Jun 7 high
*PRICE: 117-28+ @ 10:17 BST, Jun 18
*SUP 1: 116-142/12 Mar 27 high/May 30 low
*SUP 2: 115-177/03+ 100-dma/May 3 low
*SUP 3: 114-30 50% 111-26+-118-012
Global bonds rallied Tuesday morning, benefiting from ECB's Draghi talking up
the policy space available to the ECB. 5-Yr futures now re-target the 118
handle, the level at which the contract has had a tough time surmounting.
Momentum indicators remain somewhat stretched, so another push higher may be
contingent on a dovish Fed meeting Wednesday. Failure around here could trigger
a short-term reversal. Bears need to clear the May 30 low at 116-12, before
challenging a run at the 116-00 level & 100-dma.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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