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(Z18) 21-DMA Turns Support.....>

US 10YR FUTURE TECHS: (Z18) 21-DMA Turns Support
*RES 3: 119-16+ 100-dma/38.2% retracement from 2000 lows to 2012 highs
*RES 2: 119-04+ 50-dma
*RES 1: 119-00 Sep 28 high
*PRICE: 118-20 @ 16:41 GMT, Oct 24
*SUP 1: 118-07 21-dma
*SUP 2: 117-13+ Low Oct 8
*SUP 3: 116-20 Breakout target from triangle pattern (continuation chart)
Having broken through resistance and closing above the 21-dma yesterday, US
10-year futures made light work of progressing through Tuesday's highs, prepping
markets for an attempt on the Sep28 high at 119-00 and the 50-dma above at
119-04+. This cements the positivity of the near-term outlook and bulls switch
their longer-term focus to Fibo resistance at 119-15/16+. Above here would mark
a significant improvement in the longer-term outlook. Bears need to break back
below the 21-dma at 118-07 to resume the downtrend and target the Oct 8 low at
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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