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(Z3) Short-Term Bull Theme Still In Play

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: 108-25 High Nov 3
  • PRICE: 108-07+ @ 15:52 GMT Nov 8
  • SUP 1: 107-04 20-day EMA
  • SUP 2: 105-27+/105-10+ Low Nov 1 / Low Oct 19 and bear trigger
  • SUP 3: 104-26 2.00 proj of the Jul 18 - Aug 4 - Aug 10 price swing
  • SUP 4: 104-25 2.0% 10-dma envelope

Treasuries maintain a firmer short-term tone and the contract is consolidating just below its recent highs. The latest rally has resulted in a move above the 50-day EMA, at 108-01+, and has delivered a print above 108-16, the Oct 12 high and a key resistance. A clear break of this 108-16 hurdle would strengthen a bullish case and signal scope for a climb towards 109-20, the Sep 19 high. Initial support lies at 107-04, the 20-day EMA.

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