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(Z9) Gains Are Corrective......>

US 10YR FUTURE TECHS: (Z9) Gains Are Corrective
*RES 4: 129-26+ Trendline resistance drawn off Oct 8 high
*RES 3: 129-23 50-Day EMA
*RES 2: 129-12+ High Nov 6
*RES 1: 128-29+ Intraday high
*PRICE: 128-27+ @ 19:20 GMT, Nov 13
*SUP 1: 127-31+ Low Nov 7
*SUP 2: 127-25+ Projected bear channel base drawn off Sep 3 high
*SUP 3: 127-06+ 1.236 progression of Sep 3 - Sep 13 decline from Oct 4 high
*SUP 4: 126-20+ 1.382 progression of Sep 3 - Sep 13 decline from Oct 4 high
10yr futures are experiencing a short-term recovery as prices correct last weeks
sell-off. The outlook though remains bearish. The key technical break on Nov 7
was a move below the former key support of 128-16, Sep 13 low. The breach adds
fuel to the current trend and paves the way for weakness towards 127-26+ next,
the base of a bear channel drawn off the Sep 3 high. Resistance is at 129-12+.

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