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(Z2)‌‌ Resistance Is At The 20-Day EMA

US 10YR FUTURE TECHS
  • RES 4: 113-11+ 50-day EMA
  • RES 3: 112-22+ High Oct 6
  • RES 2: 111-28+ High Oct 13 and key near-term resistance
  • RES 1: 111-08/08+ 20-day EMA / High Oct 26
  • PRICE: 110-22 @ 11:39 BST Oct 27
  • SUP 1: 109-20/108-26+ Low Oct 25 / 21 and the bear trigger
  • SUP 2: 108-06+ Low Oct 2007 (cont)
  • SUP 3: 107.02 3.0% 10-dma envelope
  • SUP 4: 106-20+ Low Aug 2007 (cont)

Treasuries are lower today but remain closer to recent highs following the recovery from 108-26+, the Oct 21 low. Despite recent gains, the primary trend remains down. Moving average studies are in a bear mode and a price sequence of lower lows and lower highs is intact. A resumption of weakness would open 108-20, a Fibonacci projection. Initial firm resistance to watch is at 111-08, the 20-day EMA. A break of this average would expose 111-28+.

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