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(Z2)‌‌ Bear Trend Extension

US 10YR FUTURE TECHS
  • 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: 109-31 @ 15:28 BST Oct 20
  • SUP 1: 109-19+ Low Oct 20
  • 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.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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