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(Z9) Trading sideways *RES 3:...>

US 5YR FUTURE TECHS
US 5YR FUTURE TECHS: (Z9) Trading sideways
*RES 3: 121-21+ High Nov 9 2016
*RES 2: 120-13 Sep 4 High
*RES 1: 119-29+ 1.0% 10-dma envelope
*PRICE: 118-20+ @ 11:03 BST, Sep 20
*SUP 1: 118-03 Pullback Low
*SUP 2: 117-317 76.4% 117-08-120-13
*SUP 3: 117-282 100-dma
Surprisingly, the Fed failed to provide a catalyst in either direction for
Treasury futures this week. This keeps the technical outlook for 5-yr largely
unchanged. Bears remain looking lower as the price fails to nudge back above the
50-dma, opening a move on 118-03, the pullback low. Any fall through here opens
117-317 Fib support to re-trigger any bearish price action. The recent
sell-on-rallies theme continues to hurt the bullish argument, making recent
highs at 120-13 look out of sight for now.

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