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(Z0) Attention Is On The 50-Day EMA

  • RES 4: 125-31 High Oct 15
  • RES 3: 125-29+ High Nov 5 and the bull trigger
  • RES 2: 125-24 High Nov 9
  • RES 1: 125-21+ 50-day EMA
  • PRICE: 125-19+ @ 11:02 GMT Nov 27
  • SUP 1: 125-162 Low Nov 25
  • SUP 2: 125-12+ Low Nov 16
  • SUP 3: 125-08+ Low Nov 12
  • SUP 4: 125-04+ 1.50 proj of Aug 4 - 28 sell-off from Sep 3 high

5yr futures continue to trade closer to the upper end of the recent trading range. The recent uptrend is still considered a correction. The break lower on Nov 9 resulted in a move through 125-122, Nov 4 low, confirming a resumption of the downtrend that started early August and maintains the bearish price sequence of lower lows and lower highs. 125-21+ is a firm resistance, the 50-day EMA. A break would alter the picture.

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