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(Z9) Still Vulnerable *RES 4:...>
US 5YR FUTURE TECHS: (Z9) Still Vulnerable
*RES 4: 120-026 High Oct 10
*RES 3: 119-102 50-DMA
*RES 2: 119-046 High Oct 16
*RES 1: 118.31+ High Oct 25
*PRICE: 118-186 10:35 GMT, Oct 29
*SUP 1: 118-14 Intraday low
*SUP 2: 118-03 Low Sep 13 and key support
*SUP 3: 117-222 Low July 31
*SUP 4: 117-17+ 1.236 projection of Sep 4 - Sep 13 decline from Oct 4 high
5yr futures remain under pressure near-term despite today's minor recovery.
Yesterday's extension lower paves the way for a move towards 118-03, Sep 13 low
and the next key support. 118-15, Sep 19 low has also been probed reinforcing
the current bearish weight. Note, 118-03 marks the midpoint of what appears to
be a broad double top reversal pattern, potentially an indication of what lies
ahead sentiment wise. 118-31+ is resistance.
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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.