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(Z3) Jolted Higher on Soft CPI

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: 108-28+ High Nov 14
  • PRICE: 108-26 @ 16:51 GMT Nov 14
  • SUP 1: 107-00 Low Nov 13
  • SUP 2: 105-27+/105-10+ Low Nov 1 / Low Oct 19 and bear trigger
  • SUP 3: 105-12 2.0% 10-dma envelope
  • SUP 4: 104-26 2.00 proj of the Jul 18 - Aug 4 - Aug 10 price swing

The short-term trend outlook in Treasuries firmed Tuesday after the post-CPI rally took out the bull trigger. For now, Treasuries remain bullish after the recent move above the 50-day EMA at 107-31+ as well as 108-16, the Oct 12 high and key resistance. The clear break of 108-16 signals scope for 109-20, the Sep 19 high. Initial support at 107-00, Monday’s low. A break would signal scope for a deeper retracement.

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