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‌(Z0)‌ Finds Support

  • RES 4: 139-07+ 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 bull trigger
  • PRICE: 138-13 @ 11:10 GMT Nov 27
  • SUP 1: 138-04 Low Nov 25
  • 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 still trade below the recent peak but closer to recent highs and found support at 138-04 on Nov 25. Futures cleared a trendline on Nov 20, drawn off the Oct 2 high. This is a positive development, however Nov 20 activity also highlights a potential bearish threat - a doji candle - that signals a possible top. Resistance at 138-19+, the 50-day EMA is intact too. A deeper pullback would expose 137-27, Nov 16 low. The bull trigger is 138-20.

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