US 10YR FUTURE TECHS: (Z6) Resumes Its Downtrend

* RES 4: 108-27+ High Aug 13 * RES 3: 108-15+ High Aug 28 * RES 2: 107-20+ 50-day EMA * RES 1: 106-12/106-24+ High Sep 14 / 20-day EMA * PRICE: 105-10 @ 15:511 BST Sep 23 * SUP 1: 105-09 2.236 proj of Jun 30 - Jul 14 - 17 price swing * SUP 2: 105-00+ 2.382 proj of Jun 30 - Jul 14 - 17 price swing * SUP 3: 104-25+ 2.500 proj of Jun 30 - Jul 14 - 17 price swing * SUP 4: 104-00 Round number support Today's sharp sell-off in Treasuries confirms a resumption of the downtrend and confirms a bear flag formation on the daily chart. Note too that moving average studies are in a bear-mode position, highlighting a dominant downtrend. Sights are on 105-09 and 105-00+, Fibonacci projection points. Initial firm resistance to watch is 106-24+, the 20-day EMA. Short-term gains would be considered corrective.