November 07, 2024 11:23 GMT
US 10YR FUTURE TECHS: (Z4) Trend Needle Points South
US 10YR FUTURE TECHS
- RES 4: 112-22 High Oct 16 and a key short-term resistance
- RES 3: 112-08 50-day EMA
- RES 2: 112-07 High Oct 21
- RES 1: 110-21+/111-06+ High Nov 6 / 20-day EMA
- PRICE: 109-16 @ 11:11 GMT Nov 7
- SUP 1: 109-07 Low Nov 6
- 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 contract has cleared the 110.00 handle and this opens 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 111.06+, the 20-day EMA. Short-term gains would be considered corrective.
125 words