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‌‌(H1)‌‌ 137-00 Resistance Remains Intact

US 10YR FUTURE TECHS
  • RES 4: 137-21+ 50-day EMA
  • RES 3: 137-07+ Low Dec 4
  • RES 2: 137-00 Round number resistance
  • RES 1: 136-31+ High Jan 19
  • PRICE: 136-30 @ 16:13 GMT Jan 20
  • SUP 1: 136-12 Low Jan 13
  • SUP 2: 136-01 Low Jan 12
  • SUP 3: 135-25+ 76.4% of the Mar - Aug rally
  • SUP 4: 135-08 23.6% 2018-2020 Rally

Treasuries rebounded into the close Tuesday but have pulled back from the 136-31 high. Recent gains are still considered a correction that is allowing an oversold trend reading to unwind. MA studies are pointing south and this reinforces a bearish theme. Resistance levels are at 137-00 and 137-07+, Dec 4 low. A break above the latter level would allow for a stronger recovery. Attention is on the bear trigger at 136-01. First support is 136-12.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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