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PIPELINE

November Corporate Debt Issuance Over $120B

US TSY OPTIONS

NFP option

TURKEY

Erdogan Says He Will Never Advocate a Rate Hike

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  • RES 4: 133-12+ High Sep 22
  • RES 3: 132-21+ Low Aug 11 and recent breakout level
  • RES 2: 132-08+ High Oct 4
  • RES 1: 130-31/131-19+ High Oct 19 / High Oct 14
  • PRICE: 130-02+ @ 11:42 BST Oct 22
  • SUP 1: 129-31 Low Oct 21
  • SUP 2: 129-03 50.0% of the Oct '18 - Mar '20 bull cycle
  • SUP 3: 128-17+ Low Jan 9, 2020 (cont)
  • SUP 4: 128-05 Low Dec 30 2019 and low Jan 2 2020

Treasuries traded lower again yesterday and have confirmed a resumption of the current downtrend. The fresh trend lows this week reinforce bearish conditions and maintain the price sequence of lower lows and lower highs. The contract is testing the 130-00 handle, a clear break would open 129-03, a Fibonacci retracement. Key resistance is at 131-19+, Oct 14 high. Initial firm resistance is seen at 130-21, Oct 19 high.