November 23, 2022 15:28 GMT
(Z2) Bullish Outlook
US 10YR FUTURE TECHS
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- 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: 113-11 High Nov 16
- PRICE: 112-30+ @ 15:27 GMT Nov 23
- SUP 1: 111-25/110-12+ 20-day EMA / Low Nov 10
- SUP 2: 109+10+ Low Nov 04
- SUP 3: 108-26+ Low Oct 21 and the bear trigger
- SUP 4: 108-06+ Low Oct 2007 (cont)
Treasury futures trend conditions remain bullish and the contract is holding on to the bulk of its recent gains. This month's gains resulted in a break of 112-14, the 50-day EMA. A continuation higher would strengthen bullish conditions and open 113-30, Oct 4 high and a key resistance. On the downside, initial firm support is at 111-25, the 20-day EMA. A break of this average would signal scope for a deeper retracement.
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