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(Z3) Trend Signals Remain Bearish

US 10YR FUTURE TECHS
  • RES 4: 109-20 High Sep 19
  • RES 3: 108-20 50-day EMA
  • RES 2: 108-16 High Oct 12
  • RES 1: 107-05+ 20-day EMA
  • PRICE: 106-08 @ 16:49 BST Oct 24
  • SUP 1: 105-10+ Low Oct 19
  • SUP 2: 104-20+ 2.0% 10-dma envelope
  • SUP 3: 104-26 2.00 proj of the Jul 18 - Aug 4 - Aug 10 price swing
  • SUP 4: 104-17+ Low Jul’07

Treasuries have recovered from their recent lows. The trend condition remains bearish and gains are likely part of a correction. Last week’s move lower resulted in a break of 106-03+, the Oct 4 low, confirming a resumption of the downtrend. The move down has exposed the 2.0% 10-dma envelope support of 104-20+. Key short-term trend resistance is at 108-16, the Oct 12 high. Initial firm resistance is at 107-05+, the 20-day EMA.

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