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(H4) Bull Cycle Remains In Play

  • RES 4: 112-03 1.382 proj of the Oct 19 - Nov 3 - Nov 13 price swing
  • RES 3: 111-19 1.236 proj of the Oct 19 - Nov 3 - Nov 13 price swing
  • RES 2: 111-00 Round number resistance
  • RES 1: 110-31+ High Dec 5
  • PRICE: 110-21+ @ 11:16 GMT Dec 6
  • SUP 1: 109-11 20-day EMA
  • SUP 2: 108-18+ Low Nov 27 and a key short-term support
  • SUP 3: 107-22 Low Nov 14
  • SUP 4: 107-11+ Low Nov 13 and a reversal trigger

The trend direction in Treasuries remains up and Tuesday’s gains have reinforced this condition. Price has pierced 110-25, the 1.00 projection of the Oct 19 - Nov 3 - Nov 13 price swing. A continuation higher would open the 111-00 handle. Moving average studies have crossed and are in a bull-mode condition, highlighting bullish market sentiment. Initial key support is at 108-18+, the Nov 27 low.

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