US 10yr future top and bear theme
· A roll back lower as anticipated on Friday after a bounce effort Thursday was capped by modest resistance at recent support now resistance at 126-255/265.
· This maintains negative pressures from the previous breach of this support area and previously 127-075 that completed a topping and bearish tone.
· We still see the early November bias lower for a retest of the 126-07/06 area probed last Wednesday and likely below to aim for 125-255.
· The threat is increasing, however, for a deeper November correction for retrace/ chart support targets at 125-00/ 124-26.
WHAT CHANGES THIS?
· Above 127-08 eases bear risks; through 127-145 signals a neutral tone, only shifting positive above 127-28.
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4 hour US 10yr Future December Chart