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‌‌(Z1)‌‌ Bullish Focus

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 Oct 4
  • RES 1: 131-30+ High Nov 5 and the intraday bull trigger
  • PRICE: 131-25+ @ 16:50 GMT Nov 9
  • SUP 1: 131-01+ Low Nov 5
  • SUP 2: 130-07+/29-31 Low Oct 29 / Low Oct 21 and the bear trigger
  • SUP 3: 129-03 50.0% of the Oct '18 - Mar '20 bull cycle
  • SUP 4: 128-17+ Low Jan 9, 2020 (cont)

Treasuries strengthened late last week and continue to trade closer to recent highs. The breach last week of 131.07, Oct 27 high highlights a short-term positive tone and signals scope for further upside. Note that the 50-day EMA has also been cleared and this strengthens the short-term case for bulls. The focus is on 132-08+, Oct 4 high. Initial firm support lies at 130-07+, Oct 29 low. The major support has been defined at 129-31.

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