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(Z18) Well Within Yesterday's...>

US 5YR FUTURE TECHS: (Z18) Well Within Yesterday's Range ***CORRECT TAG***
*RES 3: 113-07+ 100-DMA
*RES 2: 113-00 Bottom of Triangle beginning May
*RES 1: 112-28 50% 113-277-111.28
*PRICE: 112-052 @ 10:14 GMT, Oct 12
*SUP 1: 111-07+ Oct 14 2008 low
*SUP 2: 110-30 61.8% 102-26-125-00
*SUP 3: 109-042 Sep 30 2008 low
Thursday trade largely held the sharp gains seen late Wednesday, keeping the
short-term balance in favour of the bulls after the equity market rout mid-week.
112-117 was the high watermark, and that remains the initial upside target after
prices ebbed lower across the Friday Asia-Pac session. Despite the surge higher
this week, few medium-term key resistance levels were taken out, leaving the
medium-term picture broadly neutral, but bulls will be regaining confidence.
Daily momentum indicators remain entirely negative, keeping focus on the recent
cycle lows of 111-26+ for bears.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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