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(Z0) Bearish Conditions Dominate

US 5YR FUTURE TECHS
  • RES 4: 125-31 High Oct 15
  • RES 3: 125-27+ 50-day EMA
  • RES 2: 125-252 20-day EMA
  • RES 1: 125-22+ High Oct 22
  • PRICE: 125-202 @ 10:20 GMT Oct 26
  • SUP 1: 125-16+ 1.00 proj of Aug 4 - 13 sell-off from Sep 3 high
  • SUP 2: 125-112 Low Jun 10 (cont)
  • SUP 3: 125-08 1.382 proj of Aug 4 - 13 sell-off from Sep 3 high
  • SUP 4: 125-06+ Low Jun 6

5yr futures maintain a weaker tone following last week's strong selling pressure. The Oct 21 breach of support at 125-202, Oct 7 low, confirmed a resumption of the downtrend that has been in place since early August. This paves the way for weakness towards 125-16+ next, a Fibonacci projection and last week's low ahead of 125-112, Jun 10 low (cont). Initial resistance is at 125-22+.

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