CREDIT SUPPLY: Vodafone Tendered Line Levels

• RES 4: 111-20+ High 6 and the bull trigger 
• RES 3: 110-25   High Dec 12   
• RES 2: 110-04   50-day EMA  
• RES 1: 109-04+ 20-day EMA
• PRICE:‌‌ 108-02+ @ 11:49 GMT Jan 08
• SUP 1: 108-01+ Low Jan 7 
• SUP 2: 108-00   1.500 proj of the Oct 1 - 14 - 16 price swing   
• SUP 3: 107-19+ 1.618 proj of the Oct 1 - 14 - 16 price swing
• SUP 4: 107-04   1.764 proj of the Oct 1 - 14 - 16 price swing

The trend condition in Treasury futures is unchanged and remains bearish. Tuesday’s fresh cycle low confirms a resumption of the downtrend and the contract is approaching the next objective at 108-00, a Fibonacci projection. Note too that moving average studies remain in a bear-mode position highlighting a dominant downtrend. Key short-term resistance is seen at 109-04+, the 20-day EMA.

SONIA FIX - ICE/Bloomberg.

• TISONI1M 4.6866 -0.0165
• TISONI3M 4.5893 -0.0078
• TISONI6M 4.5269 -0.0070
• TISONI1Y 4.4361 -0.0076