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Free Access(Z17) Pullback Reaches 61.8%....>
US 5YR FUTURE TECHS: (Z17) Pullback Reaches 61.8% Fibo Retrace Level
*RES 4: 118-250 8 week bull channel top
*RES 3: 118-232 Aug 29 high
*RES 2: 118-205 Hourly high Aug 29
*RES 1: 118-167/175 Hourly resistance
*PRICE: 118-150 @1145GMT
*SUP 1: 118-115 61.8% of 118-040/118-232, Aug 31 low
*SUP 2: 118-085 76.4% Fibo of 118-040/118-232
*SUP 3: 118-065 8 week bull channel base
*SUP 4: 118-040 Aug 23 low
*COMMENTARY* The pullback from the week's earlier 118-232 high has reached
118-115, a 61.8% Fibo retrace of the gains seen from the Aug 16 low at 118-040.
Can allow a deeper 118-085/118-065 fall but any lower and the 8 week bull
channel base is threatened and with it recent upside momentum. While intact,
look to 118-167/118-205 for resistance, needing above the latter before
confidence is restored for another tilt at 118-232 and channel top at 118-250.
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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.