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(Z1)‌‌ Pulls Away From Recent Lows

  • 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: 131-11+/131-30+ 50-day EMA / High Nov 5
  • PRICE: 131-00 @ 11:41 GMT Nov 19
  • 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 are firmer today and have remained above recent lows. The short-term outlook remains bearish however to strengthen this case and trigger fresh weakness, a break of support at 129-31 is required, Oct 29 low. For bulls, the key short-term resistance is unchanged at 131-30+, Nov 5 high where a break would re-establish a short-term bull theme and open 132-08+, Oct 4 high. Initial resistance is at 131-11+.

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