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Free AccessMNI US CPI Preview: Setting The Tone For 2025
(Z0) Bearish Below Trendline Resistance
- RES 4: 125-31 High Oct 15 and a key near-term resistance
- RES 3: 125-29 61.8% retracement of the Sep 30 - Oct 23 sell-off
- RES 2: 125-272 High Oct 28 and the bull trigger
- RES 1: 125-246 Trendline resistance drawn off the Sep 30 high
- PRICE: 125-20 @ 11:37 GMT Nov 2
- SUP 1: 125-196 Low Oct 29
- SUP 2: 125-16+ Low Oct 22 and 23 and the bear trigger
- SUP 3: 125-156 1.00 proj of Aug 4 - 28 sell-off from Sep 3 high
- SUP 4: 125-112 Low Jun 10 (cont)
5yr futures stalled at trendline resistance last week drawn off the Sep 30 high. The trendline intersects at 125-246. A break, reinforced by a move above the Oct 28 high of 125-272 high would signal a reversal of the recent downleg and pave the way for a climb towards 125-31, Oct 15 high. While the trendline holds, support at 125-16+, Oct 22 and 23 low remains exposed. Clearance of this level would confirm a resumption of bearish activity.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.