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(H3)‌‌ Breaches Support

US 10YR FUTURE TECHS
  • RES 4: 116-25 2.0% 10-dma envelope
  • RES 3: 115-26 2.00 proj of the Oct 21 - 27 - Nov 3 price swing
  • RES 2: 115-14 50% Aug - Oct Downleg
  • RES 1: 114-23/115-11+ High Dec 19 / 13 and the bull trigger
  • PRICE: 113-20 @ 11:28 GMT Dec 20
  • SUP 1: 113-11+ Intraday low
  • SUP 2: 112-11+ Low Nov 21 and a key short-term support
  • SUP 3: 112-05+ Low Nov 14
  • SUP 4: 110-22 Low Nov 10

Treasury futures have started this week on a bearish note. Today’s move lower has resulted in a break of support at 113-22+, the Dec 12 low and a key short-term level. This undermines the recent bull theme and instead suggests scope for a deeper retracement. The focus is on 112-11+, the Nov 21 low. Note that the contract has pierced the 50-day EMA - at 113-15. A clear break would strengthen the bear threat. Key resistance is at 115-11+.

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