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(Z0) Corrective Bounce

US 30YR FUTURE TECHS
  • RES 4: 176-10 High Oct 15 and a key resistance
  • RES 3: 175-27 High Nov 5 and the bull trigger
  • RES 2: 173-24 High Nov 9
  • RES 1: 172-27 Intraday high
  • PRICE: 172-10 @ 12:01 GMT Nov 13
  • SUP 1: 169-16 Low Nov 11
  • SUP 2: 168-19 1.236 proj of Aug 6 - 28 sell-off from Sep 3 high
  • SUP 3: 168-00 Round number support
  • SUP 4: 167-14 1.382 proj of Aug 6 - 28 sell-off from Sep 3 high

30yr futures remain bearish following Monday's move lower and despite the recent corrective bounce. Weakness earlier this week saw price clear key support at 170-07, Nov 4 low and negated the Nov 4 reversal signal - a bullish engulfing candle. This confirmed a resumption of the downtrend that has been in place since early August and maintains the bearish price sequence of lower lows and lower highs. Resistance is at 173-24.

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