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(Z9) Rallies remain sold *RES...>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (Z9) Rallies remain sold
*RES 3: 121-21+ High Nov 9 2016
*RES 2: 120-00 Psychological level
*RES 1: 119-272 Aug 26 high
*PRICE: 119-25+ @ 11:46 BST, Aug 29
*SUP 1: 118-21+ Low Aug 13
*SUP 2: 118-122 Pivot level
*SUP 3: 118-13/117-08 50-dma/Post Fed Low
5-year futures inched lower still Friday morning, equalling the week's lows at
119-24+. Markets clearly remain in sell rallies mode, pressuring five year
futures further off the week's best levels. This does little to change the
technical outlook, which looks largely neutral for now. Upside progress still
looks hampered by bullish exhaustion, suggesting there's little appetite to
challenge 120-00 without further impetus. However, the medium-term uptrend still
persists, pointing to targets at 121-21+. As long as markets stay above the
118-122 pivot level, the outlook should remain positive.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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