November 30, 2022 11:27 GMT
(H3) Corrective Pullback
US 10YR FUTURE TECHS
- RES 4: 115-03 1.764 proj of the Oct 21 - 27 - Nov 3 price swing
- RES 3: 115-00 High Sep 19
- RES 2: 114-04 High Oct 4 and a key resistance
- RES 1: 113-27 High Nov 28
- PRICE: 113-03 @ 11:16 GMT Nov 30
- SUP 1: 112-23+ 50-day EMA
- 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 trend conditions remain bullish and this week’s pullback is considered corrective - for now. The recent break of the 50-day EMA strengthens the case for bulls. The contract has pierced 113-19+, the Nov 16 high. A clear break of this hurdle would confirm a resumption of the current uptrend. Sights are on 114-04 next, the Oct 4 high and a key short-term resistance. Key support to watch is at 112-11+, the Nov 21 low.
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