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(H1) Trading Below Resistance

US 5YR FUTURE TECHS
  • RES 4: 126-05+ High Nov 6
  • 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: 125-316 High Dec 8
  • PRICE: 125-28 @ 11:26 GMT Dec 10
  • 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

The 5yr futures correction higher has this week found resistance at 125-316, Tuesday's high. A bearish theme is likely to dominate near-term while resistance at 126-016 remains in place, Nov 9 and 30 high. The renewed bearish pressure exposes support at 125-20+, Dec 2 low and the near term bear trigger. Clearance of this level would open 125-192, Nov 12 low and the key support at 125-13+, Nov 11 low. A break of 126-016 alters the picture.

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