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(H4) Pullback Stalls, Prevents Bearish Weekly Close

US 10YR FUTURE TECHS
  • RES 4: 115-00+ 2.236 proj of the Oct 19 - Nov 3 - Nov 13 price swing
  • RES 3: 114-06+ 2.00 proj of the Oct 19 - Nov 3 - Nov 13 price swing
  • RES 2: 114-00 Round number resistance
  • RES 1: 113-12+ 1.764 proj of the Oct 19 - Nov 3 - Nov 13 price swing
  • PRICE: 112-07 @ 16:13 GMT Jan 05
  • SUP 1: 111-15+ 1.0% 10-dma envelope
  • SUP 2: 111-06+ Low Jan 05
  • SUP 3: 110-25+ 50-day EMA
  • SUP 4: 109-31+ Low Dec 11 and key short-term support

The corrective pullback in Treasuries stalled on the back of the soft US jobs markets data, prompting a sharp recovery off a new pullback low of 111-06+. This prompted a rally back above the 20-day EMA to put markets on a more even footing into the weekly close. On any return higher, 112-19, 112-20 mark first resistance levels ahead of the cycle best printed last week at 113-12. Any return lower will see next notable support undercut at the 111-09+ Dec 7 high.

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