US 10YR FUTURE TECHS: (H6) Bull Cycle Extends
Dec-18 17:14
- RES 4: 113-22+ High Nov 25 and a key resistance
- RES 3: 113-09 76.4% retracement of the Nov 25 - Dec 10 bear leg
- RES 2: 113-07 High Dec 3
- RES 1: 113-00+ 61.8% retracement of the Nov 25 - Dec 10 bear leg
- PRICE: 112-23 @ 17:13 GMT Dec 18
- SUP 1: 112-06/111-29 Low Dec 16 / 10 and the bear trigger
- SUP 2: 111-19 1.236 proj of the Oct 17 - Nov 5 - 25 price swing
- SUP 3: 111-11 1.382 proj of the Oct 17 - Nov 5 - 25 price swing
- SUP 4: 111-00 Round number support
The spike higher in Treasuries Thursday highlights a stronger short-term bullish condition and signals scope for a continued retracement of the recent Nov 25 - Dec 10 bear leg. The move higher has exposed 113-00+, a Fibonacci retracement. Clearance of this level would open 113-07, the Dec 3 high. It is possible that recent gains are corrective. A reversal lower would refocus attention on 111-29, the Dec 10 low and a key short-term support.
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