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(Z3) Bullish Outlook

US 10YR FUTURE TECHS
  • RES 4: 110-07+ High Sep 14
  • RES 3: 110-00 Round number resistance
  • RES 2: 109-20 High Sep 19
  • RES 1: 108-31 High Nov 14
  • PRICE: 108-21 @ 17:13 GMT Nov 16
  • SUP 1: 107-00 Low Nov 13
  • SUP 2: 105-27+/105-10+ Low Nov 1 / Low Oct 19 and bear trigger
  • SUP 3: 105-25 2.0% 10-dma envelope
  • SUP 4: 104-26 2.00 proj of the Jul 18 - Aug 4 - Aug 10 price swing

Short-term bullish conditions in Treasuries remain intact following Tuesday’s rally and the contract is trading closer to its recent highs. Price has pierced resistance at 108-25, Nov 3 high. A clear break of this hurdle would signal scope for an extension towards 109-20, Sep 19 high. Key short-term support has been defined at 107-00, the Nov 13 low. A reversal lower and a break of this support, would instead highlight a bearish threat.

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