Free Trial

‌(Z0)‌ Recovery Still Considered Corrective

US 10YR FUTURE TECHS
  • RES 4: 139-11 Bear channel top drawn off the Aug 4 high
  • RES 3: 139-08+ High Nov 5
  • RES 2: 138-24+ High Nov 9
  • RES 1: 138-11+ 20-day EMA
  • PRICE: 138-01 @ 15:58 GMT Nov 16
  • SUP 1: 137-19+ Low Nov 12
  • SUP 2: 137-08 1.500 proj of Aug 4 - 28 decline from Sep 3 high
  • SUP 3: 137-01+ 1.618 proj of Aug 4 - 28 decline from Sep 3 high
  • SUP 4: 136-25+ 1.764 proj of Aug 4 - 28 decline from Sep 3 high

Treasuries are holding onto recent gains however the bounce off last week's low of 137-08 is still considered a correction. The break lower last week resulted in a move through 137-20+, Nov 4 low. This confirmed a resumption of the downtrend since early August and maintains the bearish price sequence of lower lows and lower highs. Initial resistance is seen at 138-11+. The bear trigger is at 137-08.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.