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‌(H1)‌ Bearish Pressure Likely To Persist

US 10YR FUTURE TECHS
  • RES 4: 139-19+ High Nov 6
  • RES 3: 138-12 High Nov 9
  • RES 2: 138-08 High Nov 20 / 30 and bull trigger
  • RES 1: 137-23 Low Nov 25
  • PRICE: 137-17+ @ 11:58 GMT Dec 2
  • SUP 1: 137-12 61.8% retracement of the Nov 11 - 30 rally
  • SUP 2: 137-05 76.4% retracement of the Nov 11 - 30 rally
  • SUP 3: 136-26+ Low Nov 11 and key support
  • SUP 4: 136-22 0.764 proj of Nov 5 - 11 sell-off from Nov 30 high
Treasuries traded sharply lower yesterday highlighting a reversal of the recent recovery between Nov 11 - 30. Further weakness would reinforce a developing bearish threat and signal scope for a move towards 137-05, a Fibonacci retracement ahead of 136-26+, the Nov 11 low and key support. On the upside, key resistance has been defined at 138-08, the Nov 20 and 30 high. A break of this hurdle is required to reinstate a bullish focus.

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