Free Trial

(U9) Crosshairs point higher....>

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 |
MNI London Bureau | +44 203-865-3809 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.