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(H2)‌‌ Outlook Remains Vulnerable

US 10YR FUTURE TECHS
  • RES 4: 132-16 High Sep 23
  • RES 3: 132-00 Round number resistance
  • RES 2: 131-21 High Sep 24
  • RES 1: 131-19 High Dec 20 and key resistance
  • PRICE: 130-13+ @ 13:46 GMT Dec 29
  • SUP 1: 130-07+ Low Dec 13 / 15
  • SUP 2: 139-31 Low Dec 8
  • SUP 3: 129-24 61.8% retracement of the Nov 24 - Dec 3 rally
  • SUP 4: 128-22+ Low Nov 24 and key support

Treasuries trade under pressure in holiday trade, responding to the strength in global equity markets. This keeps the outlook vulnerable following the Dec20/21 sell-off and the recent failure to confirm a clear break of resistance at 131-16, the Dec 3 high. The resumption of weakness exposes support at 130-07+, the Dec 13 / 15 low. Clearance of this support would open 129-31, the Dec 8 low. Key resistance and the bull trigger has been defined at 131-19, Dec 20 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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