Steve Miley, MSTA
MarketChartist
US 10yr future better top threat
Once again, modest resistance at 128-105 has capped to leave increasing risk for a breach of 127-075 for a shift to a negative theme, reinforced through 127-00.
The setback last week from our 129-175/18 resistance area continues to indicate a potential topping structure into midweek with risk to support.
Through 128-105 is needed to ease the topping threat, but all the way above 129-18 is need to fully re-energize the bull tone.
WHAT CHANGES THIS?
Downside: Below 127-075 sees risk lower for 127-00 and 126-07.
Upside: Above 129-175/18 aims higher for 130-00 and 130-17.
4 hour US 10yr Future December Chart
THERE IS SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES, OPTIONS AND FX PRODUCTS. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE
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