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(Z0)‌ Attention Is On The Bear Channel Base

US 10YR FUTURE TECHS
  • RES 4: 139-14 High Oct 15
  • RES 3: 139-04+ 50-day EMA
  • RES 2: 138-30+ 20-day EMA
  • RES 1: 138-20+ Low Oct 7 and this week's breakout level
  • PRICE: 138-17 @ 10:34 GMT Oct 26
  • SUP 1: 138-05 Low Oct 23
  • SUP 2: 138-04+ 1.00 proj of Aug 4 - 28 decline from Sep 3 high
  • SUP 3: 138-01 Bear channel base drawn off the Aug 4 high
  • SUP 4: 137-29 76.4% retracement of the Jun - Aug rally (cont)

Treasuries remain in a downtrend following the recent sell-off. A bearish theme was reinforced on Oct 21 following the break of 138-20+, Oct 7 low. The move lower confirmed a resumption of the broader reversal that occurred on Aug 4 and clears the way for an extension lower. This has opened 138-04+ next, a Fibonacci projection ahead of 138-01, a bear channel base drawn off the Aug 4 high. Initial resistance is seen at 138-20+.

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