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(U9) Bears licking their.......>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (U9) Bears licking their wounds
*RES 3: 131-00 Nov 9 2016 High
*RES 2: 130-08+ 76.4% 134-07+ - 117-13+
*RES 1: 129-04+ Intraday high
*PRICE: 128-27 @ 15:44 BST, Aug 2
*SUP 1: 127-08 50-dma
*SUP 2: 125-06+ May 30 low
*SUP 3: 125-14+ 100-dma
Those looking for a firm break through the 50-dma support were crushed following
Trump's belligerent trade tweets this week, as prices flew north of both the 128
and 129 handles. 10yr futures managed to eke out a new cycle high at 129-04+
ahead of the NFP number, which proved mildly supportive. This leaves markets
considering levels not seen since 2016. 130-08+ marks the next upside target,
but another catalyst will likely be needed to sustain recent momentum. Bears
really need to break and close below the 50-dma to rebalance here.

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