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(Z18) Breaks Spell of Lower....>

US 30YR FUTURE TECHS: (Z18) Breaks Spell of Lower Lows
*RES 3: 143-07 100-DMA
*RES 2: 142-13 Sep 7 - Sep 10 lows
*RES 1: 141-19/27 50% 145-29-137-08/Aug 1 low
*PRICE: 137-12 @ 10:52 GMT, Oct 11
*SUP 1: 136-12+ 61.8% 111-22-177-11
*SUP 2: 135-13 Sep 19 2014 low
*SUP 3: 133-06 50% 89-00-177-11
The late-Wednesday surge higher helped repair the technical picture after the
contract marked the fifth consecutive session of lower lows. Nonetheless, the
medium-term outlook remains negative. Gains held throughout the Asia-Pac
session, but faded slightly throughout the European morning, with bears eyeing
yesterday's 136-29 to reignite the downtrend. Below here opens the 61.8%
retracement level at 136-12+, ahead of the Apr 4 2014 low at 131-21. Bulls
initially need to clear the double-top resistance area at 141-00-05, before
challenging the Sep 7-10 lows at 142-13.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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