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SHORT-STERLING OPTIONS

Straddle Buyer

GILT SUMMARY

Gradual Grind Lower

US 10YR FUTURE TECHS

‌‌(U1)‌‌ Corrective Pullback

(Z18) 21-DMA Dictates *RES.....>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (Z18) 21-DMA Dictates
*RES 3: 119-00 Sep 28 high
*RES 2: 118-16+ Oct 1 low
*RES 1: 118-08+ 21-dma
*PRICE: 118-00 @ 16:45 GMT, Oct 19
*SUP 1: 117-13+ Low Oct 8
*SUP 2: 116-30 Bear channel bottom (continuation chart)
*SUP 3: 116-20 Breakout target from triangle pattern (continuation chart)
Markets failed to cement the late gains seen Thursday, keeping the 21-dma (now
at 118-08+) the key resistance level for now. Should prices fail to break above
here, markets will likely keep focus on the Oct 8 low at 117-13+. A break below
this level would bring the bear channel bottom at 116-30 into play. Bulls need a
break of the 21-dma to shift the short-term outlook more positive, opening the
Sep 28 high at 119-00. Above here would mark a significant improvement in the
longer-term outlook.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com