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(H1) Finds Resistance

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 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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