November 25, 2024 17:00 GMT
US 10YR FUTURE TECHS: (Z4) Trades Through The 20-Day EMA
US 10YR FUTURE TECHS
- RES 4: 112-22 High Oct 16 and a key short-term resistance
- RES 3: 111-20+ High Oct 22
- RES 2: 111-09 50-day EMA
- RES 1: 110-14+ High Nov 25
- PRICE: 110-10 @ 16:52 GMT Nov 25
- 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: 107-17 2.0% 10-dma envelope
The medium-term trend direction in Treasuries is unchanged, it remains down and gains appear corrective. However, the contract has started this week’s session on a firmer note and price has traded through the 20-day EMA, at 110-04+. The break signals scope for a stronger recovery and opens the 50-day EMA, at 111-09. 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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