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(H4) Corrective Pullback

US 10YR FUTURE TECHS
  • RES 4: 112-16 1.50 proj of the Oct 19 - Nov 3 - Nov 13 price swing
  • RES 3: 112-03 1.382 proj of the Oct 19 - Nov 3 - Nov 13 price swing
  • RES 2: 111-19 1.236 proj of the Oct 19 - Nov 3 - Nov 13 price swing
  • RES 1: 111-09+ High Dec 7
  • PRICE: 110-05+ @ 11:29 GMT Dec 11
  • SUP 1: 109-23+ 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. The contract has pulled back from its recent highs, however, the move lower appears to be a correction. 110-25, the 1.00 projection of the Oct 19 - Nov 3 - Nov 13 price swing, has recently been cleared. This reinforces the bull theme and a continuation higher would open 111-19, the 1.236 projection. Note that MA studies are also in a bull-mode position. Initial key support is at 108-18+, the Nov 27 low.

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