November 13, 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: 111-29 50-day EMA
- RES 2: 111-14+ High Oct 25
- RES 1: 110-25 20-day EMA
- PRICE: 109-14 @ 11:11 GMT Nov 13
- 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
The trend in Treasuries is unchanged and the needle points south with the contract trading closer to its recent lows Furthermore, recent weakness reinforces a bearish condition and note that MA studies are in a bear-mode set-up, highlighting a clear downtrend. Sights are on 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 110-25, the 20-day EMA.
139 words