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(Z18) Downtrend Extends *RES...>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (Z18) Downtrend Extends
*RES 4: 120-18 Descending trendline (off May and Aug highs) 
*RES 3: 119-27 Former range top (Jul/Aug) 
*RES 2: 119-16+ 100-DMA 
*RES 1: 119-11+ Ascending Trendline (off May and Aug lows) 
*PRICE: 118-15+ @ 06:49 GMT, Sep 26 
*SUP 1: 117-29+ April 2011 low (Continuous contract) 
*SUP 2: 117-22 February 2011 low (Continuous contract) 
*SUP 3: 117-05+ 76.4% Retracement of 111-12+ to 135-29 
*SUP 4: 115-46 61.8% Retracement of 103-20+ to 135-29 
US 10-Yr futures managed to hit new marginal cycle lows yesterday as the May 17
low at 118-10 becomes the next target for bears. A break below here would turn
focus to the April 2011 low (Continuous contract) at 117-29+, and the Feb 2011
low (Continuous contract) at 117-22. For bulls to revise the outlook more
positive, markets need to reclaim the 100-DMA at 119-17, before challenging
descending trendline resistance at 120-18.

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