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(Z1)‌‌ Corrective Cycle

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: 131-07/131-19+ High Oct 27 / High Oct 14
  • PRICE: 130-29 @ 11:31 BST Oct 28
  • SUP 1: 130-11+/29-31 Low Oct 26 / 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 the recovery that has dominated since Oct 21 is considered corrective. Moving average studies remain in a bear mode and a bearish price sequence of lower lows and lower highs remains intact. A resumption of weakness would refocus attention on the bear trigger at 129-31, Oct 21 low. Key resistance is seen at 131-19+, Oct 14 high where a break is required to suggest a S/T reversal.

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