(Z2)‌‌ Approaching The Bear Trigger

• RES 4: 116-11 50.0% retracement of the Aug 2 - Sep 28 bear leg
• RES 3: 115-09+ 50-day EMA
• RES 2: 114-31+ 38.2% retracement of the Aug 2 - Sep 28 bear leg
• RES 1: 113-11/30 20-day EMA / High Oct 4 and the bull trigger
• PRICE: 111-12 @ 11:36 BST Oct 10
• SUP 1: 111-06/110-19 Low Oct 7 / Low Sep 28 and the bear trigger
• SUP 2: 110-00 Psychological Support
• SUP 3: 109-23+ Low Nov 30 2007 (cont)
• SUP 4: 108.27+ 3.0% 10-dma envelope

Treasuries remain soft and the contract is trading closer to its recent lows. The reversal last week from 113-30, the Oct 4 high, marks the end of the correction between Sep 28 - Oct 4. Moving average studies remain in a bear mode position and attention is on the key support and bear trigger at 110-19, Sep 28 low. A break would confirm a resumption of the primary downtrend. Price needs to break above 113-30 to reinstate a short-term bullish theme.