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‌(Z0)‌ Probes Key Support

US 10YR FUTURE TECHS
  • RES 4: 139-14 High Oct 15 and a key resistance
  • RES 3: 139-07+ High Oct 16
  • RES 2: 139-03 High Oct 28 and the bull trigger
  • RES 1: 138-25+ 20-day EMA
  • PRICE: 138-13 @ 16:31 GMT Nov 2
  • SUP 1: 138-03+ Low Oct 30
  • 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: 137-31+ Bear channel base drawn off the Aug 4 high

Treasuries maintain a bearish stance following last week's sell-off that followed a failure on Oct 28 at trendline resistance drawn off the Oct 2 high. The trendline intersects at 138-31+. A break of the line, reinforced by a move above 139-03, Oct 28 high would confirm a reversal of the recent downleg and open 139-14, Oct 15 high. While price remains below the trendline and with support at 138-05 breached, Oct 30 low, the risk is for further weakness.

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