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(Z0) Probes Trendline Resistance

US 5YR FUTURE TECHS
  • RES 4: 125-31 High Oct 15 and a key near-term resistance
  • RES 3: 125-29 61.8% retracement of the Sep 30 - Oct 23 sell-off
  • RES 2: 125-272 High Oct 28 and the bull trigger
  • RES 1: 125-252 Intraday high
  • PRICE: 125-22+ @ 11:21 GMT Nov 4
  • SUP 1: 125-122 Intraday low
  • SUP 2: 125-112 Low Jun 10 (cont)
  • SUP 3: 125-10+ 1.236 proj of Aug 4 - 28 sell-off from Sep 3 high
  • SUP 4: 125-07 1.382 proj of Aug 4 - 28 sell-off from Sep 3 high

5yr futures have rallied sharply off today's earlier low of 125-122. Price has also probed trendline resistance at 125-236, drawn off the Sep 30 high. A clear break of the trendline though is still required to signal a reversal. Attention is on resistance at 125-272, Oct 28 high and the near-term bull trigger. A break would confirm a breach of the trendline and strengthen a bullish outlook. Key support has been defined at 125-122.

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