U.S. 10 Year: Downside Bias Through Key 123-28
Steve Miley | Sep 15, 2014 02:14AM ET
U.S. 10-Year future bear phase to extend
We stated in our last report to clients that “we see downside pressures to still aim lower Friday and through mid-September to the 124-00 retrace level and maybe back closer to the 123-125 July low” and the push through the retrace leaves threat to 123-125 this week.
A key Interim support target for Monday is now the trend line support on the Adjusted Continuation Chart (ADC) from September 2013 that now comes in at 123-28.
A break here would be a far more negative technical development and allow for a more bearish theme for 123-125, and then key lows at 123-07/06.
WHAT CHANGES THIS?
Above 125-12 eases bear risks; through 125-215 signals a neutral tone, only shifting positive above 125-305.
Please see full report with levels and latest screencast here:
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