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(Z2)‌‌ Corrective Pullback

  • 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: 113-17 High Nov 28
  • PRICE: 112-19+ @ 19:46 GMT Nov 29
  • SUP 1: 112-15+ 50-day EMA
  • SUP 2: 112-04 Low Nov 21 and a key short-term support
  • SUP 3: 111-27+ Low Nov 14
  • SUP 4: 110-12+ Low Nov 10

Treasury futures trend conditions remain bullish and this week’s pullback is considered corrective - for now. The recent break of the 50-day EMA strengthens the case for bulls. The contract has pierced 113-11, the Nov 16 high. A clear break of this hurdle would confirm a resumption of the current uptrend. Sights are on 113-30 next, the Oct 4 high and a key short-term resistance. Key support to watch is at 112-04, the Nov 21 low.

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