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(H3)‌‌ Corrective Pullback

  • RES 4: 116-12 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: 115-06+ High Dec 7 and the bull trigger
  • PRICE: 113-30+ @ 11:24 GMT Dec 13
  • SUP 1: 113-21+/113-06+ Low Dec 2 / 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 remain below 115-06+, Dec 7 high, following the latest retracement. The outlook is bullish and the move lower is considered corrective. MA studies have crossed to highlight a bullish backdrop and note that a positive price sequence of higher highs and higher lows remains intact. A break higher would open 115-14, 50% of the Aug - Oct downleg on the continuation contract. Support to watch is 113-06+, the 50-day EMA.

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