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(Z9) 129-12 Marks The Key......>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (Z9) 129-12 Marks The Key Support
*RES 4: 132-13 Contract high, Sep 3
*RES 3: 132-01 High Sep 5
*RES 2: 131-24 High Oct 4
*RES 1: 130-19/22+ High Oct 14 / 50-dma
*PRICE: 129-23 @ 10:23 GMT, Oct 22
*SUP 1: 129-12 Support line from Jul 16 and 100-dma
*SUP 2: 129-03+ Low Sep 19
*SUP 3: 128-24 Low Sep 16
*SUP 4: 128-16 Low Sep 13 and primary support
10yr futures sold off yesterday to maintain the pressure on the 100-dma at
129-12. While resistance at 130-19, Oct 14 high and the 50-dma at 130-22+
remains intact, bearish pressure is likely to persist near-term. The contract is
trading just ahead of a support line drawn off the July 16 low that today
intersects at 129-12. A break would reinforce the bearish theme. Bulls need to
clear 130-19/22+ to alter the picture and refocus attention on 132-13+.

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