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Free Access(Z9) Searching for bottom......>
US 10YR FUTURE TECHS: (Z9) Searching for bottom
*RES 3: 133-29 2.0% 10-dma envelope
*RES 2: 133-04+ High Jul 29 2016
*RES 1: 132-20 3% Upper Bollinger Band
*PRICE: 130-13+ @ 15:30 GMT, Sep 10
*SUP 1: 129-12 Low Aug 8
*SUP 2: 129-06+ 50-dma
*SUP 3: 128-14+ Low Aug 2
10yr futures inched lower again Tuesday, hitting new pullback lows of 130-11+.
The outlook remains relatively neutral, with a retracement back below 129-28
needed to shift the trend negative. Any fall through here opens key support at
the 129-12 and a fall through here would cement the outlook bearish. The
proximity to the Fed decision in just a few weeks' time makes a reversal in
either direction unlikely for now. For bulls to wrest control, a recovery back
above 132-00 is needed ahead of any test on vol band resistance at 132-20.
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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.