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(Z2)‌‌ Key Support Remains Exposed

US 10YR FUTURE TECHS
  • RES 4: 113-30 High Oct 4 and a key resistance
  • RES 3: 112-25+ 50-day EMA
  • RES 2: 112-22+ High Oct 6
  • RES 1: 110-31+/111-31 20-day EMA / High Oct 27
  • PRICE: 109-29 @ 10:16 GMT Nov 4
  • SUP 1: 109-12 Low Nov 03
  • SUP 2: 108-26+ Low Oct 21 and the bear trigger
  • SUP 3: 108-06+ Low Oct 2007 (cont)
  • SUP 4: 107.08 3.0% 10-dma envelope

Treasuries remain below last week’s high of 111-31 on Oct 27 - a key short-term resistance. A break of this hurdle is required to signal scope for an extension higher near-term and expose the 50-day EMA at 112-25+. However, this week’s bearish extension exposes the key support and bear trigger at 108-26+, the Oct 21 low. A break of this support would confirm a resumption of the primary downtrend.

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  • RES 4: 113-30 High Oct 4 and a key resistance
  • RES 3: 112-25+ 50-day EMA
  • RES 2: 112-22+ High Oct 6
  • RES 1: 110-31+/111-31 20-day EMA / High Oct 27
  • PRICE: 109-29 @ 10:16 GMT Nov 4
  • SUP 1: 109-12 Low Nov 03
  • SUP 2: 108-26+ Low Oct 21 and the bear trigger
  • SUP 3: 108-06+ Low Oct 2007 (cont)
  • SUP 4: 107.08 3.0% 10-dma envelope

Treasuries remain below last week’s high of 111-31 on Oct 27 - a key short-term resistance. A break of this hurdle is required to signal scope for an extension higher near-term and expose the 50-day EMA at 112-25+. However, this week’s bearish extension exposes the key support and bear trigger at 108-26+, the Oct 21 low. A break of this support would confirm a resumption of the primary downtrend.