November 10, 2022 11:23 GMT
(Z2) Trend Needle Still Points South
US 10YR FUTURE TECHS
- RES 4: 113-27+ High Sep 21
- RES 3: 113-30 High Oct 4 and a key resistance
- RES 2: 112-12+ 50-day EMA
- RES 1: 111-09/111-31 High Nov 2 / High Oct 27
- PRICE: 110-16 @ 11:11 GMT Nov 10
- SUP 1: 109-10+ Low Nov 04
- SUP 2: 108-26+ Low Oct 21 and the bear trigger
- SUP 3: 108-06+ Low Oct 2007 (cont)
- SUP 4: 107.05+ 3.0% 10-dma envelope
The short-term outlook in Treasuries remains bearish and the contract continues to trade below 111-31, the Oct 27 high and a key short-term resistance. A break of this hurdle is required to highlight a stronger reversal and this would open the 50-day EMA at 112-12+. The primary trend direction is down and attention is on the bear trigger at 108-26+, the Oct 21 low. A break of this support would resume the trend.
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