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(Z9) Downside Focus *RES 4:....>

US 30YR FUTURE TECHS
US 30YR FUTURE TECHS: (Z9) Downside Focus
*RES 4: 161-22 High Nov 1 and key resistance
*RES 3: 160-26 High Nov 4
*RES 2: 160-23 Trendline resistance drawn off Oct 8 high
*RES 1: 159-05 High Nov 6
*PRICE: 156-24 @ 11:48 GMT, Nov 8
*SUP 1: 155-26 Yesterday's low
*SUP 2: 155-04 Bear channel base drawn off Sep 3 high
*SUP 3: 155-00 Round number support
*SUP 4: 153-25 1.236 projection of Aug 28 - Sep 13 decline from Oct 7 high
30yr futures prices remain vulnerable following yesterday's selling pressure.
Yesterday's price action was significant in that the former key support at
157-17, Sep 13 low was cleared. This confirms a resumption of the broader
downtrend that began on Aug 28. The move lower sets the scene for weakness
towards 155-04, the base of a broad bear channel drawn off Sep 3 high. Initial
resistance is at 159-05, Wednesday's high. Likely to trade heavy near-term!

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