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‌(Z0)‌ Focus Is On Trendline Resistance

US 10YR FUTURE TECHS
  • RES 4: 139-16+ Bear channel resistance drawn off the Aug 4 high
  • RES 3: 139-14 High Oct 15 and a key resistance
  • RES 2: 139-07+ High Oct 16
  • RES 1: 139-02/03 Trendline resistance and High Oct 28
  • PRICE: 138-25+ @ 10:46 GMT Oct 29
  • SUP 1: 138-18+ Low Oct 27
  • SUP 2: 138-05 Low Oct 23
  • SUP 3: 138-04+ 1.00 proj of Aug 4 - 28 decline from Sep 3 high
  • SUP 4: 138-00+ Bear channel base drawn off the Aug 4 high

Treasuries gained further Wednesday but faded off the highs into the close. Nonetheless, the underlying outlook remains bullish and recent momentum behind the current rally suggests scope for further gains. Attention is on a short-term trendline resistance that intersects at 139-02 today. The trendline is drawn off the Oct 2 high. A break would strengthen the bullish theme and open 139-14, Oct 15 high. Initial firm support lies at 138-18+, Oct 27 low.

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