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Free Access(Z9) Bullish Conditions........>
US 10YR FUTURE TECHS: (Z9) Bullish Conditions Still Apparent, But Weakening
*RES 3: 132-13 Contract high, Sep 3
*RES 2: 132-07+ High Sep 5
*RES 1: 132-01 High Oct 4
*PRICE: 130-16+ @ 10:22 GMT, Oct 11
*SUP 1: 130-16 50-dma
*SUP 2: 130-14 Low Oct 2
*SUP 3: 129-20 Low Oct 1 and key near-term support
Treasuries got a decent bullish signal from clearing the final retracement
hurdle last week at 131-15+, but this strength has dissipated materially over
the past few sessions. This pattern extended early Friday. The longer-term
needle does continue to point higher, however, but the contract high at 132-13
is looking more distant. Bulls now need to break 132-13 to confirm a resumption
of the primary uptrend and open Fibonacci projections at 132-22 and 132-30+. The
50-dma marks initial support.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.