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US 10YR FUTURE TECHS: (Z4) Corrective Cycle Remains In Play

US 10YR FUTURE TECHS
USFixed Income Technical AnalysisBulletMarketsFixed Income BulletsNorth America
  • RES 4: 112-22   High Oct 16 and a key short-term resistance 
  • RES 3: 111-20+ High Oct 22
  • RES 2: 111-08   50-day EMA 
  • RES 1: 110-18   High Nov 25
  • PRICE:‌‌ 110-07 @ 17:01 GMT Nov 26
  • SUP 1: 109-14+ Low Nov 20/21     
  • SUP 2: 108-30/18+ Low Nov 15 / 1.236 proj of Oct 1 - 10 - 16 swing
  • SUP 3: 108-03   1.382 proj of the Oct 1 - 10 - 16 price swing
  • SUP 4: 107-15+ 2.0% 10-dma envelope

The medium-term trend direction in Treasuries is unchanged, it remains down and gains appear corrective. However, Monday’s move higher resulted in a breach of the 20-day EMA, at 110-05+. The break signals scope for a stronger recovery and opens the 50-day EMA, at 111-08. This EMA marks the next important resistance. For bears, a reversal lower would signal the end of the correction and open the bear trigger at 108-30, Nov 15 low.    

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  • RES 4: 112-22   High Oct 16 and a key short-term resistance 
  • RES 3: 111-20+ High Oct 22
  • RES 2: 111-08   50-day EMA 
  • RES 1: 110-18   High Nov 25
  • PRICE:‌‌ 110-07 @ 17:01 GMT Nov 26
  • SUP 1: 109-14+ Low Nov 20/21     
  • SUP 2: 108-30/18+ Low Nov 15 / 1.236 proj of Oct 1 - 10 - 16 swing
  • SUP 3: 108-03   1.382 proj of the Oct 1 - 10 - 16 price swing
  • SUP 4: 107-15+ 2.0% 10-dma envelope

The medium-term trend direction in Treasuries is unchanged, it remains down and gains appear corrective. However, Monday’s move higher resulted in a breach of the 20-day EMA, at 110-05+. The break signals scope for a stronger recovery and opens the 50-day EMA, at 111-08. This EMA marks the next important resistance. For bears, a reversal lower would signal the end of the correction and open the bear trigger at 108-30, Nov 15 low.