November 17, 2022 15:32 GMT
(Z2) Fades, But Broader Trend Intact
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: 112-21 @ 15:30 GMT Nov 17
- SUP 1: 111-14/110-12+ 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 faded into the Thursday close, but remain pointed higher after the recovery off the Monday lows. The contract has cleared resistance at 112-13+, the 50-day EMA. 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, initial firm support is seen at 111-14, the 20-day EMA. A break of this average would expose key support at 108-26+, the Oct 21.
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