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(Z9) Still Below Channel.......>

US 10YR FUTURE TECHS
US 10YR FUTURE TECHS: (Z9) Still Below Channel Resistance
*RES 4: 130-26 High Oct 11
*RES 3: 130-15+ High Nov 1 and key bull trigger
*RES 2: 130-02+ High Nov 4
*RES 1: 129-19 Channel top drawn off Oct 8 high and 50-day EMA
*PRICE: 129-10+ @ 16:44 GMT, Nov 18
*SUP 1: 128-10+ Low Nov 13
*SUP 2: 127-31+ Low Nov 7 and bear trigger
*SUP 3: 127-21+ Projected bear channel base drawn off Sep 3 high
*SUP 4: 127-06+ 1.236 progression of Sep 3 - Sep 13 decline from Oct 4 high
10yr futures continue to consolidate following last weeks recovery. Initial
resistance at 129-12, Nov 7 high has been breached and attention turns to
129-19, channel resistance drawn off the Oct 8 high. Clearance of this level
would suggest scope for a stronger recovery and open 130-15+, Nov 1 high. For
now the move higher is viewed as a correction with support at 128-10+. The bear
trigger for a resumption of weakness is 127-31+.
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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