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Free AccessYIELD TECHS: Double Top Gaining.........>
US TSYS/10Y: YIELD TECHS: Double Top Gaining Traction
*RES 4: 3.3956 Apr 5 2011 low, now resistance
*RES 3: 3.3000 Channel top from Dec 2016 high
*RES 2: 3.2594 Oct 9 High
*RES 1: 3.1148 50-dma
*PRICE: 3.0664 @ 06:52 GMT, Nov 20
*SUP 1: 3.0568 Low Oct 26
*SUP 2: 3.0000 Up trendline support from Sep 2017 lows
*SUP 3: 2.9483 200-dma
*SUP 4: 2.8660 Up trendline support from April lows
10-year yields continue to edge lower as bears look to close below Oct 26 lows
to suggest a double top is forming. Below here would open up trendline support
from the Sep 2017 lows which comes in around 3.0, below which would suggest the
broader trend has turned bearish. Bulls need to break above the 50-dma at 3.1148
to return the focus to the upside and target the cycle highs at 3.2594 seen on
Oct 9.
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Why MNI
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.