December 13, 2024 16:46 GMT
US 10YR FUTURE TECHS: (H5) Pullback Extends
US 10YR FUTURE TECHS
- RES 4: 112-18 50.0% retrace of the Sep 11 - Nov 15 bear leg
- RES 3: 112-02 Low Oct 14
- RES 2: 111-24 38.2% retrace of the Sep 11 - Nov 15 bear leg
- RES 1: 111-09+/111-20+ 50-day EMA / High 6 and the bull trigger
- PRICE: 109-31 @ 16:42 GMT Dec 13
- SUP 1: 109-30+ Low Dec 13
- SUP 2: 109-22 76.4% Nov 15 - Dec 6 Upleg
- SUP 3: 109-20 Low Nov 20/21
- SUP 4: 109-02+ Low Nov 15 and the bear trigger
The pullback in Treasury futures picked up pace into the Friday close, with first support at 110-02 giving way before the London close. A bull phase remains in play, however, a corrective cycle has resulted in a pullback from recent highs. An extension lower would strengthen a bearish theme. For bulls, a reversal higher would refocus attention on key resistance at 111-20+, the Dec 6 high. Clearance of this level is required to resume the recent bull cycle.
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