Free Trial

(Z2)‌‌ Bearish Outlook

US 10YR FUTURE TECHS
  • RES 4: 116-11 50.0% retracement of the Aug 2 - Sep 28 bear leg
  • RES 3: 115-13+ Low Sep 7
  • RES 2: 114-31+ 38.2% retracement of the Aug 2 - Sep 28 bear leg
  • RES 1: 112-25+/113-30 20-day EMA / High Oct 4 and the bull trigger
  • PRICE: 111-15 @ 11:10 BST Oct 13
  • SUP 1: 110-19 Low Sep 28 and the bear trigger
  • SUP 2: 110-00 Psychological Support
  • SUP 3: 109-23+ Low Nov 30 2007 (cont)
  • SUP 4: 108.23 3.0% 10-dma envelope

Treasuries are consolidating. The outlook remains bearish and gains are considered corrective. The reversal last week from 113-30, Oct 4 high, marked the end of the Sep 28 - Oct 4 correction. MA studies are 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.

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.