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(H1) Finds Resistance
- 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 and 30
- RES 1: 125-282 High Dec 3
- PRICE: 125-25+ @ 11:36 GMT Dec 4
- SUP 1: 125-20+ Low Dec 2 and the near-term bear trigger
- SUP 2: 125-192 Low Nov 12
- SUP 3: 125-13+ Low Nov 11 and key support
- SUP 4: 125-06+ 1.00 proj of Nov 5 - 11 sell-off from Nov 30 high
5yr futures traded higher yesterday but appear to be finding resistance once again. A bearish theme is likely to dominate following Tuesday's sharp sell-off. Further weakness would reinforce a developing bearish threat and open 125-192, Nov 12 low ahead of the key support at 125-13+, Nov 11 low. On the upside, key resistance has been defined at 126-016, Monday's high where a break is required to reinstate a bullish focus.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.