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(Z18) Narrowing Range *RES.....>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (Z18) Narrowing Range
*RES 4: 122-19 High Feb 2 (Continuation chart)
*RES 3: 120-26 High May 30
*RES 2: 120-24 High Aug 22
*RES 1: 120-19 Descending trendline (off May and Aug highs)
*PRICE: 120-00 @ 10:23 GMT
*SUP 1: 119-27 Former range top, now support
*SUP 2: 119-25 100-DMA
*SUP 3: 119-15 Ascending trendline (off May and Aug lows)
*SUP 4: 119-02 Low Aug 1
Following a bounce off support at the 100-DMA and the former range top at 119-27
Wednesday, the Dec18 contract continues to consolidate within a narrowing range.
It would take a break of 3-month trendline resistance at 120-19 to unlock a
further move to the May and then February highs (on the continuous contract
chart). For bears, a break of 100-DMA would set up a run toward the ascending
trendline from the May lows, currently represented by 119-15.

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