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(H2)‌‌ Resistance Remains Intact

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: 130-30+/131-16 High Dec 13 / High Dec 3 and bull trigger
  • PRICE: 130-18 @ 12:58 GMT Dec 16
  • SUP 1: 129-31 Low Dec 8
  • SUP 2: 129-24 61.8% retracement of the Nov 24 - Dec 3 rally
  • SUP 3: 128-22+ Low Nov 24 and key support
  • SUP 4: 128-00 Round number support

Key resistance in Treasuries is unchanged at 131-16, Dec 3 high and attention has recently been on the potential for weakness following the pullback from 131-16, Dec 3 high. A clear break of the 20-day EMA, at 130-12+ today, would open 129-24+, a Fibonacci retracement. For bulls, clearance of 131-16 would instead reinstate a bullish outlook and resume the bounce from Nov 24. This would open 131-21, Sep 24 high.

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