Free Trial

(Z1)‌‌ Trend Needle Still Points South

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: 129-26 @ 16:27 GMT Nov 24
  • SUP 1: 129-03 50.0% of the Oct '18 - Mar '20 bull cycle
  • SUP 2: 128-17+ Low Jan 9, 2020 (cont)
  • SUP 3: 128-05 Low Jan 2, 2020 (cont)
  • SUP 4: 127-29 Low Dec 13, 2019

Treasuries are trading near recent lows. The contract has this week cleared the former key support at 129-31, Nov 17 low and this confirms a resumption of the downtrend. Moving average studies also highlight a bearish theme as they continue to point south. The break lower paves the way for a move towards 129-03 next, a Fibonacci retracement level. Key short-term resistance has been defined at 131-08, the Nov 19 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.