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(Z3) Bears Remain In The Driver’s Seat

US 10YR FUTURE TECHS
  • RES 4: 109-20 High Sep 19
  • RES 3: 108-26+ 50-day EMA
  • RES 2: 107-12+/108-16 20-day EMA / High Oct 12
  • RES 1: 106-15+ High Oct 18
  • PRICE: 105-23+ @ 11:19 BST Oct 20
  • SUP 1: 105-10+ Low Oct 19
  • SUP 2: 104-27+ 2.0% 10-dma envelope
  • SUP 3: 104-26 2.00 proj of the Jul 18 - Aug 4 - Aug 10 price swing
  • SUP 4: 104-17+ Low Jul’07

Treasuries traded lower again Thursday and the contract remains closer to its recent lows. Key support at 106-03+, the Oct 4 low, has been breached, confirming a resumption of the downtrend. The move down has exposed the 2.0% 10-dma envelope support of 104-27+. Key short-term trend resistance has been defined at 108-16, Oct 12 high, where a break is required to highlight a base. Initial firm resistance is at 107-12+, the 20-day EMA.

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