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‌(Z0)‌ Off Recent Lows

US 10YR FUTURE TECHS
  • RES 4: 139-14 High Oct 15
  • RES 3: 139-04 50-day EMA
  • RES 2: 138-29+ 20-day EMA
  • RES 1: 138-23 High Oct 26
  • PRICE: 138-21 @ 10:49 GMT Oct 27
  • SUP 1: 138-05 Low Oct 23
  • SUP 2: 138-04+ 1.00 proj of Aug 4 - 28 decline from Sep 3 high
  • SUP 3: 138-00+ Bear channel base drawn off the Aug 4 high
  • SUP 4: 137-29 76.4% retracement of the Jun - Aug rally (cont)

Treasuries bounced higher yesterday as a correction unfolds off last week's 138-05 low. A bearish theme was reinforced recently on Oct 21 following the break of 138-20+, Oct 7 low. This confirmed a resumption of the broader reversal that occurred on Aug 4 and clears the way for an extension lower. towards 138-04+ next, a Fibonacci projection ahead of 138-00+, a bear channel base drawn off the Aug 4 high. Firm resistance is seen at 138-29+.

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