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(Z3) Bullish Trend Structure

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: 109-08+ High Nov 17 / 22 and the bull trigger
  • PRICE: 108-23+ @ 16:42 GMT Nov 27
  • SUP 1: 108-06 50-day EMA
  • SUP 2: 108-02+ 20-day EMA
  • SUP 3: 107-00 Low Nov 13
  • SUP 4: 106-13 2.0% 10-dma envelope

The short-term trend condition in Treasuries remains bullish and the contract is trading closer to its recent highs. The recent print above resistance at 108-25, the Nov 3 high, is a positive development. A clear breach of this hurdle would signal scope for an extension towards 109-20, the Sep 19 high. Key short-term support has been defined at 107-00, the Nov 13 low. Initial support to watch lies at 108-06, the 50-day EMA.

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