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(Z1)‌‌ Remains Above Last Week’s Lows

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: 131-08/131-30+ High Nov 19 / High Nov 5
  • PRICE: 130-26 @ 12:31 GMT Nov 29
  • SUP 1: 130-13 50.0% retracement of the Nov 24 - 26 bounce
  • SUP 2: 129-16 Low Nov 25 and the bear trigger
  • SUP 3: 128-17+ Low Jan 9, 2020 (cont)
  • SUP 4: 128-05 Low Jan 2, 2020 (cont)

Treasuries reversed direction on Friday and rallied sharply higher. The bounce from 129-16, Nov 25 low, resulted in a breach of the 20-day EMA and the contract has tested the 50-day EMA at 131-05+. Just above this level is resistance at 131-08, the Nov 19 high. A break of this resistance zone would signal scope for stronger climb towards 131-30+, the Nov 5 high. For bears, a break of support at 129-16 would resume the downtrend.

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