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Bear Threat Remains Present

US 10YR FUTURE TECHS
  • RES 4: 117-29+ High Aug 26 2022 (cont)
  • RES 3: 117-14+ High Aug 29 / 30 2022 (cont)
  • RES 2: 116-06+/117-01+ High Mar 27 / High Mar 24 and bull trigger
  • RES 1: 115-07+ High Mar 28
  • PRICE: 114-20+ @ 16:53 BST Mar 29
  • SUP 1: 114-07 Low Mar 29
  • SUP 2: 114-05/113-26 20-day EMA / Low Mar 22
  • SUP 3: 113-24 50-day EMA
  • SUP 4: 113-08+ Low Mar 15

Treasury futures traded flat through Wednesday trade, having recouped losses off a 114-07 low. Nonetheless, prices remain below last Friday’s high of 117-01+. Price action on Mar 24 is a potential reversal signal - a shooting star candle pattern. It suggests scope for further weakness towards the 20-day EMA, at 114-05. The average represents a key support ahead of 113-26, the Mar 22 low. Key resistance and the bull trigger has been defined at 117-01+.

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