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US 5YR FUTURE TECHS: (Z9) Consolidates Ahead Of 100-DMA
*RES 4: 120-172 1.382 projection of rally between Sep 13 - Sep 24 from Oct 1 low
*RES 3: 120-13 Contract high Sep 4 and Oct 4 / Bull trigger
*RES 2: 120-026 High Oct 10
*RES 1: 119-116/12+ High Oct 14 / 50-DMA
*PRICE: 119-016 10:00 GMT, Oct 23
*SUP 1: 118-25/232 100-DMA / Low Oct 22
*SUP 2: 118-15 Low Sep 19
*SUP 3: 118-03 Low Sep 13
*SUP 4: 117-222 Low July 31
5yr futures are consolidating and continue to continue to hold above the 100-dma
at 118-25. The recent move below support at 118-25 highlights a bearish theme. A
break of the 100-dma would reinforce this threat and open 118-15 ahead of
118-03. Note, the latter level marks the midpoint of what appears to be a broad
double top reversal. To revisit contract highs at 120-13, markets need to
reclaim the 120-00 level. For now though, 119.116 is firm resistance.