Free Trial

(Z2)‌‌ Bear Trend Extension

  • RES 4: 113-30 High Oct 4 and the bull trigger
  • RES 3: 112-22+ High Oct 6
  • RES 2: 111-30 20-day EMA /
  • RES 1: 111-28+ High Oct 12 and key near-term resistance
  • PRICE: 110-02+ @ 11:41 BST Oct 20
  • SUP 1: 109-19+ Intraday low
  • SUP 2: 109-12+ 0.764 projection of the Oct 4 - 10 - 13 price swing
  • SUP 3: 108-20 1.00 projection of the Oct 4 - 10 - 13 price swing
  • SUP 4: 107.22+ 3.0% 10-dma envelope

Treasuries have traded lower and this has resulted in a break of support at 110.02, the Oct 13 low and the psychological 110.00 handle. The break lower confirms a resumption of the primary downtrend and marks an extension of the bearish price sequence of lower lows and lower highs. Sights are set on a move lower towards 109-12+. A Fibonacci projection. Initial firm resistance has been defined at 111-28+, high Oct 13.

To read the full story



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.