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(M2)‌‌ Southbound

US 10YR FUTURE TECHS
  • RES 4: 123-04 High Mar 31 and a key resistance
  • RES 3: 122-12+ High Apr 4
  • RES 2: 121-31/09 20-day EMA / High Apr 14 and a key resistance
  • RES 1: 120-00+ High Apr 18
  • PRICE: 118-17 @ 11:18 BST Apr 22
  • SUP 1: 118-08 Intraday low
  • SUP 2: 118-02+ 0.618 proj of the Mar 7 - 28 - 31 price swing
  • SUP 3: 117-22+ Low Nov 8 2018 (cont)
  • SUP 4: 116-28 0.764 proj of the Mar 7 - 28 - 31 price swing

Treasuries have edged lower again today to reinforce the underlying bearish condition. Fresh cycle lows confirm the resumption of the primary downtrend and an extension of the price sequence of lower lows and lower highs. Moving average studies continue to point south. The focus is on 118-02+ next, a Fibonacci projection. Initial firm resistance is unchanged at 121-09, the Apr 14 high.

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