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(Z3) Primary Trend Direction Remains Down

US 10YR FUTURE TECHS
  • RES 4: 110-10+ High Sep 8
  • RES 3: 109-20 High Sep 19
  • RES 2: 109-09+ 50-day EMA
  • RES 1: 108-16 High Oct 12
  • PRICE: 106-15+ @ 16:42 BST Oct 17
  • SUP 1: 106-08+ Low Oct 17
  • SUP 2: 106-03+/00 Low Sep 4 / Round number support
  • SUP 3: 105-06+2.0% 10-dma envelope
  • SUP 4: 104-26 2.00 proj of the Jul 18 - Aug 4 - Aug 10 price swing

Treasuries traded lower Tuesday. The contract has recently pierced resistance at the 20-day EMA - at 107-30, however, recent gains are considered corrective. A clear break of the 20-day average is required to signal scope for a stronger recovery and expose the 50-day EMA at 109-07. The primary trend remains down and a break of 106-03+, the Oct 4 low, would confirm a resumption of the trend and expose the 106-00 handle.

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