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(Z0) Approaching Major Support

US 5YR FUTURE TECHS
  • RES 4: 126-072 76.4% retracement of the Aug 4 - 28 sell-off
  • RES 3: 126-06+ High Sep 3 and the bull trigger
  • RES 2: 126-046 High Sep 30
  • RES 1: 125-316 High Oct 5
  • PRICE: 125-24+ @ 11:24 BST Oct 5
  • SUP 1: 125-222 Low Oct 5
  • SUP 2: 125-216 Low Aug 28 and the bear trigger
  • SUP 3: 125-166 1.00 proj of Aug 4 - 14 sell-off from Sep 3 high
  • SUP 4: 125-112 1.236 proj of Aug 4 - 14 sell-off from Sep 3 high

5yr futures traded sharply lower yesterday clearing a host of support levels along the way. The move has seen the contract trade within touching distance of major support at 125-216, Aug 28 low. A break of this level would confirm a resumption of the downleg that started Aug 4 and signal a broader range breakout. This would open 125-16+, a Fibonacci retracement. On the upside, initial resistance is at 125-316, yesterday's high.

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