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(Z1)‌‌ Bearish Extension

US 10YR FUTURE TECHS
  • RES 4: 133-12+ High Sep 22
  • RES 3: 132.21+ Low Aug 11 and recent breakout level
  • RES 2: 132.08+ High Sep 4 / 20-day EMA
  • RES 1: 131-07/25 Sep 28 low / High Oct 7
  • PRICE: 130-26 @ 11:46 BST Oct 11
  • SUP 1: 130-25 1.50 proj of the Aug 4 - 11 - 17 price swing
  • SUP 2: 130-07 1.50 proj of the Aug 4 - 11 - 17 price swing
  • SUP 3: 130-00 Psychological round number
  • SUP 4: 129-03 50.0% of the Oct '18 - Mar '20 bull cycle

Trend conditions in Treasuries remain bearish and the contract has extended its sell-off reinforcing Friday's break of 131-07, Sep 28 low. This confirms a resumption of the downtrend and reinforces current bearish conditions. Attention turns to 130-25 next, a Fibonacci projection and the psychological 130-00 handle. Key trend resistance has been defined at 132-08+, Sep 4 high. Initial resistance is at 131-07.

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