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(Z1)‌‌ Key Short-Term Resistance Defined

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 short-term bull trigger
  • PRICE: 132-22+ @ 11:49 GMT Nov 11
  • SUP 1: 130-15 Intraday low
  • 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 pulled off recent highs yesterday on the higher-than-forecast CPI print for October. The reversal lower has defined resistance at 131-30+, Nov 5 high where a break is required to re-establish a short-term bull theme. This would open 132-08+, Oct 4 high. On the downside, an extension lower would expose the bear trigger at 129-31, Oct 29 low. A break of this support would confirm a resumption of the primary downtrend.

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