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(Z2)‌‌ Testing Resistance At The 50-Day EMA

US 10YR FUTURE TECHS
  • RES 4: 115-14+ 50.0% retracement of the Aug 2 - Oct 21 downleg
  • RES 3: 114-17 High Sep 20
  • RES 2: 113-30 High Oct 4 and a key resistance
  • RES 1: 112-19 High Oct 27 and a key resistance
  • PRICE: 112-01 @ 11:33 GMT Nov 14
  • SUP 1: 111-00/109-10+ 20-day EMA / Low Nov 04
  • SUP 2: 108-26+ Low Oct 21 and the bear trigger
  • SUP 3: 108-06+ Low Oct 2007 (cont)
  • SUP 4: 107.12 3.0% 10-dma envelope

Treasuries traded sharply higher last Thursday, resulting in a break of resistance at 111-31, the Oct 27 high. The contract has also pierced the 50-day EMA, at 112-12+. A clear break of the EMA would strengthen the case for short-term bulls and open 113-30, the Oct 4 high and a key resistance. On the downside, key support has been defined at 108-26+, the Oct 21 low. Initial support lies at 111-00, the 20-day EMA.

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