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- 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: 111-04+ @ 17:03 GMT Dec 7
- SUP 1: 109-16+ 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 the contract is trading closer to its recent highs. The contract has cleared 110-25, the 1.00 projection of the Oct 19 - Nov 3 - Nov 13 price swing. This reinforces the bull theme and a continuation higher would open 111-19, the 1.236 projection. Note that moving average studies are also in a bull-mode position. Initial key support is at 108-18+, the Nov 27 low.
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Why MNI
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