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‌‌(Z2)‌‌ Finds Support

  • RES 4: 113-30 High Oct 4
  • RES 3: 113-03 50-day EMA
  • RES 2: 112-22+ High Oct 6
  • RES 1: 111-31 High Oct 27
  • PRICE: 111-21 @ 15:37 GMT Nov 1
  • SUP 1: 110-12 Low Oct 31
  • SUP 2: 109-20/108-26+ Low Oct 25 / 21 and the bear trigger
  • SUP 3: 108-06+ Low Oct 2007 (cont)
  • SUP 4: 107.05 3.0% 10-dma envelope

The intraday rally for Treasuries faded into the London close, keeping the primary trend direction down. Attention remains on resistance at 111-31, the Oct 27 high. A break of this hurdle would signal scope for an extension higher near-term and this would expose the 50-day EMA at 113-03. Monday’s low is first support where a break is required to signal scope for a deeper pullback, ahead of 108-26+, the Oct 21 low and a bear trigger.

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

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