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US 10YR FUTURE TECHS: (H5) Bear Threat Remains Present

US 10YR FUTURE TECHS
USFixed Income Technical AnalysisBulletMarketsFixed Income BulletsNorth America
  • RES 4: 112-02   Low Oct 14
  • RES 3: 111-24   38.2% retrace of the Sep 11 - Nov 15 bear leg  
  • RES 2: 111-04+/111-20+ 50-day EMA / High 6 and the bull trigger  
  • RES 1: 110-17+ 20-day EMA
  • PRICE:‌‌ 109-25+ @ 16:52 GMT Dec 18
  • SUP 1: 109-17   Low Dec 17        
  • SUP 2: 109-02+ Low Nov 15 and the bear trigger
  • SUP 3: 109-00   Round number support    
  • SUP 4: 108-28   1.236 proj of the Oct 1 - 14 - 16 price swing

A bearish short-term theme in Treasury futures remains intact despite yesterday’s bounce. 109-22, 76.4% of the Nov 15 - Dec 6 upleg, has been pierced. A continuation lower would expose 109-02+, the Nov 15 low and key support. It is still possible that the latest pullback is a correction. Initial resistance to watch is 110-17+, the 20-day EMA. A break of this average would highlight an early bullish development.

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  • RES 4: 112-02   Low Oct 14
  • RES 3: 111-24   38.2% retrace of the Sep 11 - Nov 15 bear leg  
  • RES 2: 111-04+/111-20+ 50-day EMA / High 6 and the bull trigger  
  • RES 1: 110-17+ 20-day EMA
  • PRICE:‌‌ 109-25+ @ 16:52 GMT Dec 18
  • SUP 1: 109-17   Low Dec 17        
  • SUP 2: 109-02+ Low Nov 15 and the bear trigger
  • SUP 3: 109-00   Round number support    
  • SUP 4: 108-28   1.236 proj of the Oct 1 - 14 - 16 price swing

A bearish short-term theme in Treasury futures remains intact despite yesterday’s bounce. 109-22, 76.4% of the Nov 15 - Dec 6 upleg, has been pierced. A continuation lower would expose 109-02+, the Nov 15 low and key support. It is still possible that the latest pullback is a correction. Initial resistance to watch is 110-17+, the 20-day EMA. A break of this average would highlight an early bullish development.