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(H1)‌ Focus Shifts To Resistance

US 5YR 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: 138-04 Intraday high
  • PRICE: 138-02+ @ 12:05 GMT Dec 11
  • SUP 1: 137-25+ 20-day EMA
  • SUP 2: 137-15 Low Dec 9
  • SUP 3: 137-07+ Low Dec 4 and the bear trigger
  • SUP 4: 137-05 76.4% retracement of the Nov 11 - 30 rally

Treasuries are firmer today and have cleared initial resistance at 137-31+. This has improved the near-term outlook for bulls and attention turns to resistance at 138-08, Nov 20 / 30 high and the bull trigger. A break of this hurdle would represent an important technical breach and highlight a bullish reversal, signalling scope for a rally towards 138-12, Nov 9 high and beyond. On the downside, firm short-term support has been defined at 137-15.

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