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Recent Gains Considered Corrective


Trend Needle Points North Despite Recent Pullback


Trend Needle Points North Despite Recent Pullback


Late SOFR/Treasury Option Roundup

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(H0) Bounce Likely To Be........>

US 5YR FUTURE TECHS: (H0) Bounce Likely To Be Short Lived
*RES 4: 120-182 1.500 projection of Dec 24 - Jan 8 rally from Jan 9 low
*RES 3: 120-156 Feb 3 high and key resistance
*RES 2: 120-092 High Feb 4
*RES 1: 120-032/6 61.8% of the Feb 3 - Feb 6 decline / High Feb 10
*PRICE: 119-29 @ 11:33 GMT, Feb 13
*SUP 1: 119-21 Low Feb 12
*SUP 2: 119-15 Low Feb 6 and bear trigger
*SUP 3:119-10 50-day EMA
*SUP 4: 119-036 Low Jan 24
5yr futures have bounced today with a risk averse mood dominating today's
session so far. The technical outlook though remains bearish following the sharp
losses between Feb 3 and Feb 6. The recent recovery between Feb 6 - Feb 10 is
viewed as a correction. Attention is on a move towards 119-10, an area of
support highlighted by the 50-day EMA. The pullback from Monday's high is an
early signal that bearish pressure is likely resuming. Resistance is at 120-036.

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