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US 10YR FUTURE TECHS: (Z9) Going nowhere fast
*RES 3: 133-04+ High Jul 29 2016
*RES 2: 132-13 2.0% 10-dma envelope
*RES 1: 132-12+ 2% Upper Bollinger Band
*PRICE: 130-00 @ 10:18 BST, Sep 27
*SUP 1: 128-16 Low Sep 13
*SUP 2: 128-14+ Low Aug 2
*SUP 3: 128-09 76.4% Early July - late August
The mini-rally evident since mid-September faltered further Thursday, as a
decent few sessions for US equity markets sapped any strength out of Treasury
futures. This dents momentum measures somewhat, but the uptrend could easily
resume if bulls take out 130-25. Bullish targets over the medium term remain on
the 2.0% 10-dma envelope at 132-12+ and, ultimately, the late July 2016 highs at
133-04+. For bears, the 50-dma at 129-24+ remains the bear trigger, which would
open a further leg lower, initially targeting the Sep13 low at 128-16.