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(U9) Plays the range *RES 4:...>

US 10YR FUTURE TECHS: (U9) Plays the range
*RES 4: 131-00 November 9 2016 High
*RES 3: 130-08+ 76.4% 134-07+ - 117-13+
*RES 2: 128-11 Upper Bollinger band (2%)
*RES 1: 128-08+ Cycle high Jun 20
*PRICE: 127-29 @ 16:13 BST, Jul 1
*SUP 1: 125-18/06+ 50-dma/May 30 low
*SUP 2: 124-07/04 100-dma/38.2% 117-13+-128-08+
*SUP 3: 124-01 May 21 low
*SUP 4: 122-30 May 3 low
Signs of bullish exhaustion Friday extended into the Monday session, prompting
10yr futures to hold in a consolidating pattern. Technical indicators remain
positive with bulls needing to recover the 128-00 handle to extend the uptrend
towards the Jun 20 ytd high. A break would further cement topside gains, opening
a run at the psychological 130-00 level. On the downside, any move through the
Jun 27 low could trigger a short term reversal toward the 50-dma & May 30 low.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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