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(H2)‌‌ Bounce Fades

  • RES 4: 132-16 High Sep 23
  • RES 3: 132-00 Round number resistance
  • RES 2: 131-21 High Sep 24
  • RES 1: 131-10 High Nov 30
  • PRICE: 130-16+ @ 16:32 GMT Nov 30
  • SUP 1: 129-228 20-day EMA
  • SUP 2: 128-30+ Low Nov 26
  • SUP 3: 128-22+ Low Nov 24 and key support
  • SUP 4: 128-00 Round number support

Treasuries reversed course ahead of the close Tuesday, with H2 futures shedding the entirety of the day’s gains. Initially, the rally showed above S/T resistance at 131-05, but failed to make a clear breach that would have strengthened short-term conditions. As such, focus switches to key support at 128-22+, the Nov 24 low. Initial support lies at 129-28, the 20-day EMA.

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