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Free Access(Z3) Jolted Higher on Soft CPI
- 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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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.