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(Z1)‌‌ Corrective Bounce

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: 131-25 High Oct 7
  • PRICE: 131-06+ @ 11:35 BST Oct 13
  • 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 are unchanged and remain bearish. Current gains are considered corrective. Last week's break of 131-07, Sep 28 low confirms a resumption of the downtrend and extends the sequence of lower lows and lower highs. The focus is on 130-25 next, a Fibonacci projection and the psychological 130-00 handle. Key trend resistance is at 132-08+, Sep 4 high. Initial resistance is at 131-25.

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