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(Z0)‌ Finds Support

US 10YR FUTURE TECHS
  • RES 4: 139-09 Bear channel top drawn off the Aug 4 high
  • RES 3: 139-08+ High Nov 5
  • RES 2: 138-24+ High Nov 9
  • RES 1: 138-20 High Nov 20 and 50-day EMA
  • PRICE: 138-11+ @ 11:38 GMT Nov 25
  • SUP 1: 138-04 Intraday low
  • SUP 2: 137-27 Low Nov 16 and key near-term support
  • SUP 3: 137-19+ Low Nov 12
  • SUP 4: 137-08 1.500 proj of Aug 4 - 28 decline from Sep 3 high

Treasuries are off the recent peak but still trading closer to recent highs and have found support today. Futures cleared a trendline on Nov 20, drawn off the Oct 2 high. This is a positive development, however Nov 20 price action also highlights a potential bearish threat - a doji candle - and signals a possible top. Also, resistance at 138-20+, the 50-day EMA is intact. A deeper pullback would expose 137-27, Nov 16 low. The bull trigger is 138-20/20+.

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