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(Z0)‌ Bullish Outlook Remains Intact ‌ ‌

US 10YR FUTURE TECHS
  • RES 4: 139-26 High Sep 29 and a key resistance
  • RES 3: 139-25 High Oct 2
  • RES 2: 139-17 76.4% retracement of the Sep 29 - Oct 7 sell-off
  • RES 1: 139-14 High Oct 15
  • PRICE: 139-02 @ 17:23 BST Oct 16
  • SUP 1: 138-31 Intraday low
  • SUP 2: 138-28+ Low Oct 13
  • SUP 3: 138-20+ Low Oct 7 and the bull trigger
  • SUP 4: 138-18+ Low Aug 28 and the bear trigger

Treasuries rallied Thursday but gave back gains to close down on the day and Friday saw price edge lower again. The recent pullback does dampen the recent positive tone, however at this stage a bullish outlook still prevails. This follows recent strong gains off the Oct 7 low. Initial resistance has been defined at 139-14, Oct 15 high where a break would open 139-17, a retracement level. Support is at 138-28+.

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