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(Z9) Starts the week neutral....>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (Z9) Starts the week neutral
*RES 3: 121-21+ High Nov 9 2016
*RES 2: 120-297 1.0% 10-dma envelope
*RES 1: 120-13 Sep 4 High
*PRICE: 119-187 @ 11:10 BST, Sep 9
*SUP 1: 118-21+ Low Aug 13
*SUP 2: 118-122 Pivot level
*SUP 3: 118-19/117-08 50-dma/Post Fed Low
Having inched higher to touch new cycle highs at 120-13 last week, prices
retreated into the Friday close and have carried the theme through to Monday
morning. This leaves the outlook looking largely neutral, with 119-152 the first
support and 120-00 the topside level. Bears could shift the outlook more
negative of key support at 119-107-117. The recent sell-on-rallies theme hurts
the bullish argument somewhat, making recent highs at 120-13 look out of sight
for now.

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