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(H3)‌‌ Fades Through London Close

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: 115-11+ High Dec 13
  • PRICE: 114-01+ @ 16:51 GMT Dec 19
  • SUP 1: 113-22+/113-14 Low Dec 12 / 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 continue to trade below the Dec 13 high. Last week’s print above resistance at 115-06+, Dec 7 high and a bull trigger, is a positive development. A clear break of this hurdle would confirm a resumption of the current uptrend and pave the way for a climb towards 115-26, a Fibonacci projection. Key short-term support has been defined at 113-22+, Dec 12 low. A reversal lower and a break of this level would threaten bullish conditions.

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