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(Z3) Short-Term Trend Outlook Remains Bullish

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 and the next bull trigger
  • PRICE: 107-13 @ 16:46 GMT Nov 13
  • SUP 1: 107-00 Low Nov 13
  • SUP 2: 105-27+/105-10+ Low Nov 1 / Low Oct 19 and bear trigger
  • SUP 3: 105-08+ 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 is unchanged and conditions remain bullish. The recent move above the 50-day EMA, at 108-00, followed by the print above 108-16, the Oct 12 high and a key resistance, reinforces a bullish theme. A clear break of 108-16 would strengthen the case for bulls and signal scope for 109-20, the Sep 19 high. Initial support at 107-02+, the Nov 2 low, has been pierced, but sell-offs are contained for now.

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