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‌‌(Z2)‌‌ Pulls Back From Thursday’s High

US 10YR FUTURE TECHS
  • RES 4: 113-09+ 50-day EMA
  • RES 3: 112-22+ High Oct 6
  • RES 2: 112-00 Round number resistance
  • RES 1: 111-31 High Oct 27
  • PRICE: 111-08+ @ 15:40 BST Oct 28
  • SUP 1: 110-16 Low Oct 26
  • SUP 2: 109-20/108-26+ Low Oct 25 / 21 and the bear trigger
  • SUP 3: 108-06+ Low Oct 2007 (cont)
  • SUP 4: 107.04 3.0% 10-dma envelope

Treasuries traded higher Thursday, extending recent gains. Despite the latest bull cycle, the primary trend remains down. MA studies are in a bear mode position and a broader price sequence of lower lows and lower highs is intact. The contract edged lower Friday and a stronger resumption of weakness would signal the end of the recent correction and refocus attention on 108-26+, the Oct 21 low. Initial resistance is at 111-31, Thursday’s high.

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