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(Z1)‌‌ Through Initial Resistance

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: 131-19+/131-20+ High Oct 14 / 50-day EMA
  • PRICE: 131-07+ @11:08 GMT Nov 5
  • SUP 1: 130-07+/29-31 Low Oct 29 / 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

Treasuries rebounded Thursday and in the process traded above resistance at 131.07, Oct 27 high. This maintains a short-term positive tone and signals scope for an extension towards the 50-day EMA at 131-20+. This EMA is a key resistance and a clear break is required to suggest scope for a stronger bullish rebound. On the downside, initial support lies at 130-07+, Oct 29 low. The major support though has been defined at 129-31.

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