November 08, 2024 11:23 GMT
US 10YR FUTURE TECHS: (Z4) Corrective Bounce
US 10YR FUTURE TECHS
- RES 4: 112-22 High Oct 16 and a key short-term resistance
- RES 3: 112-05+ 50-day EMA
- RES 2: 111-14+ High Oct 25
- RES 1: 110-21+/111-03+High Nov 6 / 20-day EMA
- PRICE: 110-14+ @ 11:14+ GMT Nov 8
- SUP 1: 109-07 Low Nov 6 and the bear trigger
- SUP 2: 109-05 76.4% retracement of the Apr - Sep bull cycle (cont)
- SUP 3: 109-00 Round number support
- SUP 4: 108-15 2.0% 10-dma envelope
A bear cycle in Treasuries remains in play and Wednesday's move lower reinforces current conditions. The recovery Thursday, above 110-00, is considered corrective. A resumption of the bear leg would open 109-05 next, the 76.4% retracement of the Apr - Sep bull cycle (cont). The 109-00 handle remains exposed too. Initial firm resistance is seen at 111-03+, the 20-day EMA.
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