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(Z0) Trendline Resistance Under Pressure

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: 125-27 50-day EMA
  • RES 1: 125-266 Intraday high
  • PRICE: 125-26+ @ 10:36 GMT Oct 28
  • SUP 1: 125-206 Low Oct 27
  • 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 have recovered off recent lows and have extended gains today. The contract is currently testing trendline resistance drawn off the Sep 30 high that today intersects at 125-262. A clear break of the trendline would highlight a reversal of the recent sell-off between sep 30 - Oct 23 and signal potential for further gains. This would open 125-31, Oct 15 high. On the downside, initial firm support is seen at 125-206, Oct 27 low.

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