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(Z2)‌‌ Bull Flag

  • RES 4: 115-14+ 50.0% retracement of the Aug 2 - Oct 21 downleg
  • RES 3: 114-17 High Sep 20
  • RES 2: 113-30 High Oct 4 and a key resistance
  • RES 1: 113-05+ High Nov 16
  • PRICE: 112-31+ @ 15:17 GMT Nov 16
  • SUP 1: 111-08/109-10+ 20-day EMA / Low Nov 04
  • SUP 2: 108-26+ Low Oct 21 and the bear trigger
  • SUP 3: 108-06+ Low Oct 2007 (cont)
  • SUP 4: 107.23 3.0% 10-dma envelope

Short-term trend direction in Treasuries remains up as prices recovered through Wednesday morning trade. The current pause in the uptrend appears to be a bull flag, reinforcing bullish conditions. The contract has pierced the 50-day EMA, at 112-12+. A clear break of this EMA would strengthen the case for short-term bulls and open 113-30, the Oct 4 high and a key resistance. On the downside, key support lies at 10A

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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