Free Trial

‌(Z0)‌ Bullish Reversal Still In Play

US 10YR FUTURE TECHS
  • RES 4: 139-30 1.0% 10-dma envelope
  • RES 3: 139-26 High Sep 29 and a key resistance
  • RES 2: 139-13+ Bear channel top drawn off the Aug 4 high
  • RES 1: 139-08+ High Nov 5
  • PRICE: 138-22 @ 11:27 GMT Nov 9
  • SUP 1: 138-12+ Low Nov 6
  • SUP 2: 137-20+ Low Nov 4 and key support
  • SUP 3: 137-15 1.382 proj of Aug 4 - 28 decline from Sep 3 high
  • SUP 4: 137-08 1.500 proj of Aug 4 - 28 decline from Sep 3 high
Treasuries maintain a bullish tone following strong gains on Nov 4. Price cleared trendline resistance, drawn off the Oct 2 high. The break was confirmed by a breach of resistance at 139-03, Oct 28 high and a recent bull trigger. This highlights a likely significant reversal of the entire decline since early August and opens 139-13+, a bearl channel top drawn off the Aug 4 high. Pullbacks are considered corrective, 138-12+ is initial support.

To read the full story

Close

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.