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(Z0)‌ Hit Hard on Vaccine Headlines

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: 138-20+ @ 16:07 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
After establishing a bullish tone following the rally Nov 4th, markets reversed sharply Monday as vaccine headlines boosted risk. Late last week, 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 bear channel top drawn off the Aug 4 high. Pullbacks, for now, are considered corrective, 138-12+ is initial support.

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