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(Z9) Balance looks lower........>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (Z9) Balance looks lower pre-payrolls
*RES 4: 122-28+ High Jun 24 2016
*RES 3: 121-21+ High Nov 9 2016
*RES 2: 120-28+ 1.0% 10-dma envelope
*RES 1: 120-13 Sep 4 High
*PRICE: 119-20+ @ 11:13 BST, Sep 5
*SUP 1: 118-21+ Low Aug 13
*SUP 2: 118-122 Pivot level
*SUP 3: 118-18/117-08 50-dma/Post Fed Low
*SUP 4: 117-172 100-dma
Having inched higher to touch new cycle highs at 120-13 this week, prices
continue to retreat on US-China trade deal positivity, leaving the near-term
outlook neutral-to-bearish. Bears could easily shift the outlook more negative
post-Nonfarm Payrolls later today by pressuring prices south of key support at
119-107-117. This week's selling pressure sees prices below 120-00, hurting the
bullish argument and making recent highs at 120-13 look out of sight for now.

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