December U.S. Treasury bond futures on Wednesday rallied two a fresh two-week high as the bulls regained some fresh upside technical momentum. Price action Wednesday also challenged a downtrend line drawn off the September and October highs. A push and close solidly above that down-trend line, to negate it, would provide the bulls with better upside technical momentum. There is some solid technical resistance also located at the October high of 112 10/32.
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The bears would regain fresh downside technical momentum to suggest another leg down in prices if they could push and close December T-Bond futures below solid technical support at the September low of 109 29/32. Stay tuned!
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