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(Z0)‌ Impulsive Rally

US 10YR FUTURE TECHS
  • RES 4: 139-17 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: 139-03+ 50-day EMA
  • PRICE: 139-01+ @ 10:50 GMT Oct 28
  • 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 bounced further Tuesday and have done so again today as this week's rally extends. The underlying momentum behind the current rally suggests scope for further upside and attention turns to the top of a bear channel resistance at 139-17. The channel is drawn off the Aug 4 high. Immediate resistance is at the 50-day EMA at 139-03+ and 139-14, the Oct 15 high. On the downside, initial firm support lies at 138-18+, Oct 27 low.

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