October 25, 2024 10:17 GMT
US 10YR FUTURE TECHS: (Z4) Bearish Trend Condition
US 10YR FUTURE TECHS
- RES 4: 113-12 Low Sep 3 and a recent breakout point
- RES 3: 113-01+ 50-day EMA
- RES 2: 112-22 High Oct 16 and a key short-term resistance
- RES 1: 112-14+ 20-day EMA
- PRICE: 111-09+ @ 11:06 BST Oct 25
- SUP 1: 111-04/110-30+ 200-dma / Low Oct 23
- SUP 2: 110-13 61.8% retracement of the Apr - Sep bull cycle (cont)
- SUP 3: 110-00 Round number support
- SUP 4: 109-22 2.0% 10-dma envelope
The trend condition in Treasuries is unchanged and remains bearish with price trading just above its recent lows. The contract traded to a fresh cycle low this week, resulting in a breach of 111-22, the Oct 10 low. Note too that the 200-dma at 111-04 has been pierced - a bearish development. A continuation lower would open 110-13, a Fibonacci retracement. Initial firm resistance has been defined at 112-22, the Oct 16 high.
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