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(Z2)‌‌ Primary Trend Direction Remains Down

US 10YR FUTURE TECHS
  • RES 4: 115-06+ High Sep 14
  • RES 3: 114-17 High Sep 20
  • RES 2: 113-30 20-day EMA
  • RES 1: 113-10 High Oct 03
  • PRICE: 113-08+ @ 15:11 BST Oct 3
  • SUP 1: 110-19 Low Sep 28
  • SUP 2: 110-00 Psychological Support
  • SUP 3: 109 11+ 3.0% 10-dma envelope
  • SUP 4: 109-23+ Low Nov 30 20074 (cont)

Treasuries remain vulnerable and recent short-term gains are considered corrective. The primary trend direction is down and recent weakness has reinforced bearish conditions. A price sequence of lower lows and lower highs and bearish moving average studies clearly highlight the market's sentiment. The focus is on 109-11+, a lower moving average band value. Initial resistance is 112-30+, the Sep 23 high.

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