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(H1) Corrective Cycle Still In Play

US 5YR FUTURE TECHS
  • RES 4: 126-05+ High Oct 15
  • RES 3: 126-022 76.4% retracement of the Nov 5 - 11 sell-off
  • RES 2: 126-016 High Nov 9
  • RES 1: 126-00+ Intraday high
  • PRICE: 125-306 @ 11:36 GMT Nov 30
  • SUP 1: 125-262 Low Nov 23 and 25
  • SUP 2: 125-236 Low Nov 17
  • SUP 3: 125-22 Low Nov 12
  • SUP 4: 125-192 1.50 proj of Aug 4 - 28 sell-off from Sep 3 high

5yr futures continue to trade closer to the upper end of the recent trading range and have edged higher today. The recent uptrend is still considered a correction. The break lower on Nov 9 resulted in a move through 124-242, Nov 3 and 4 low, confirming a resumption of the current downtrend. The correction however remains in place with attention on 126.016, Nov 9 high. A break would open 126.022. First support is at 125-262, Nov 23 and 25 low.

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