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‌(Z0)‌ Resumes Downtrend

US 10YR FUTURE TECHS
  • RES 4: 139-07+ High Oct 16
  • RES 3: 139-03 High Oct 28 and the bull trigger
  • RES 2: 138-22 20-day EMA
  • RES 1: 138-19+ High Oct 30
  • PRICE: 137-31 @ 16:13 GMT Nov 3
  • SUP 1: 137-30+ Bear channel base drawn off the Aug 4 high
  • SUP 2: 137-23 1.236 proj of Aug 4 - 28 decline from Sep 3 high
  • SUP 3: 137-15 1.382 proj of Aug 4 - 28 decline from Sep 3 high
  • SUP 4: 137-02 1.0% 10-dma Envelope

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 138-30. Futures continued lower Tuesday and also breached former support at 138-03+, Oct 30 low. This confirms a resumption of the downtrend and opens 137-30+, the base of a bear channel drawn off the Aug 4 high. Initial resistance is seen at 138-19+, Oct 30 high.

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