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(Z18) Downtrend Intact *RES.....>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (Z18) Downtrend Intact
*RES 4: 113-22  Top of Triangle beginning May
*RES 3: 113-06/097 50-DMA/100-DMA
*RES 2: 113-00  Bottom of Triangle beginning May
*RES 1: 112-68  50% 113-277-112.087
*PRICE: 112-112 @ 09:12 GMT, Sep 26
*SUP 1: 112-08  Sep 25 low
*SUP 2: 110-947 61.8% 102-26-125-00 
*SUP 3: 109-257 Sep 30 2008 low
*SUP 4: 108-15  2008 lows
Having touched fresh cycle lows of 112-08 yesterday, recovery efforts have so
far been shallow suggesting the broader downtrend remains intact. Momentum
indicators are signalling further losses with bears targeting a break of the
112-00 level, before challenging 110-947 which represents the 61.8% retracement
of 102-26-125-00. Bulls initially need to reclaim the 100-dma & Aug highs to
change the short-term outlook, before targeting triangle top resistance.

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