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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: 130-31/131-19+ High Oct 19 / High Oct 14
  • PRICE: 130-24 @ 11:48 BST Oct 27
  • SUP 1: 129-31 Low Oct 21 and the bear trigger
  • 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

The downtrend in Treasuries remains intact and short-term gains are considered corrective. Last week's move lower confirmed a resumption of the downtrend that reinforces bearish conditions. The 130-00 handle has been probed, a clear break would open 129-03, a Fibonacci retracement. Key resistance is unchanged at 131-19+, Oct 14 high where a break is required to suggest a S/T reversal. Initial firm resistance is seen at 130-31.

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