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(U9) Crosshairs point higher....>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (U9) Crosshairs point higher post-Fed
*RES 3: 119-01+ 8 Sep 2017 High
*RES 2: 118-31/317 Sep 7 2017 high/Upper Bollinger Band (3%)
*RES 1: 118-212 61.8% 122-28-111-26+
*PRICE: 118-07+ @ 10:46 BST, Jun 20
*SUP 1: 116-142/12 Mar 27 high/May 30 low
*SUP 2: 115-202/03+ 100-dma/May 3 low
*SUP 3: 114-30 50% 111-26+-118-012
5-year futures cracked above resistance layered between 118-00-05 Thursday as
the dovish Fed decision continued to reverberate through markets. This puts the
onus further on the bulls, with near-term targets shifting higher to 118-212 and
118-31. The RSI continues to scream overbought, but fundamentals clearly
continue to trump technicals at present, with further cycle highs a real
possibility. Any failure to cement a rally above 118-00, however, 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 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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