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(Z1)‌‌ Fails To Hold Onto Recent Highs

  • 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: 131-10+/131-30+ 50-day EMA / High Nov 5
  • PRICE: 130-15+ @ 11:39 GMT Nov 22
  • SUP 1: 130-01+ Low Nov 17
  • SUP 2: 129-31 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 traded firmer Friday but stalled at the session high and continue to face resistance. The failure to hold onto recent highs reinforces a bearish theme and attention is on the key 129-31 support, Oct 29 low. A break would confirm a resumption of the downtrend. For bulls, the key S/T resistance is unchanged at 131-30+, Nov 5 high. Clearance of this level would instead re-establish a short-term bull theme and open 132-08+, Oct 4 high.

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