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- RES 4: 177-12 High Sep 29 and a key resistance
- RES 3: 177-00 High Oct 2
- RES 2: 176-10 High Oct 15 and a key resistance
- RES 1: 175-27 High Nov 5 and the bull trigger
- PRICE: 173-15 @ 11:35 GMT Nov 9
- SUP 1: 172-27 Intraday low
- SUP 2: 170-07 Low Nov 4 and key support
- SUP 3: 170-00 Round number support
- SUP 4: 168-19 1.236 proj of Aug 6 - 28 sell-off from Sep 3 high
30yr futures rallied sharply higher on Nov 4 off the day low of 170-07 and price last week cleared trendline resistance drawn off the Aug 6 high. The trendline break was also confirmed by the breach of resistance at 174-29, Oct 28 high and a recent bull trigger. The break signals a more significant reversal of the entire downleg since the Aug 6 high. Pullbacks are considered corrective, key support lies at 170-07.
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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.