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(Z0) Trendline Resistance Capps Gains

US 5YR FUTURE TECHS
  • RES 4: 126-00 76.4% retracement of the Sep 30 - Oct 23 sell-off
  • RES 3: 125-31 High Oct 15 and a key near-term resistance
  • RES 2: 125-29 61.8% retracement of the Sep 30 - Oct 23 sell-off
  • RES 1: 125-272 High Oct 28 and the bull trigger
  • PRICE: 125-22 @ 10:29 GMT Oct 30
  • SUP 1: 125-196 Low Oct 29
  • SUP 2: 125-16+ Low Oct 22 and 23 and the bear trigger
  • SUP 3: 125-156 1.00 proj of Aug 4 - 28 sell-off from Sep 3 high
  • SUP 4: 125-112 Low Jun 10 (cont)

5yr futures stalled at trendline resistance yesterday drawn off the Sep 30 high. The trendline intersects at 125-252. A break, reinforced by a move above Wednesday's 125-272 high would signal a reversal of the recent downleg and pave the way for a climb towards 125-31, Oct 15 high. While the trendline holds, support at 125-16+, Oct 22 and 23 low remains exposed. Clearance of this level would confirm a resumption of bearish activity.

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