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(H1)‌‌ Bearish Focus

US 10YR FUTURE TECHS
  • RES 4: 137-05+ 50-day EMA
  • RES 3: 137-02 High Feb 11 and key resistance
  • RES 2: 136-15 High Feb 15
  • RES 1: 136-02 High Feb 18
  • PRICE: 135-26+ @ 16:17 GMT Feb 18
  • SUP 1: 135-15 Low Feb 17
  • SUP 2: 135-10 Downtrend Support Drawn Off Aug 28 Low
  • SUP 3: 135-00 1.236 proj of Jan 4 - Jan 12 sell-off from Jan 27 high
  • SUP 4: 134.22 1.382 proj of Jan 4 - Jan 12 sell-off from Jan 27 high

Despite a recovery from Wednesday's low of 135-15, Treasuries maintain a bearish stance. Bears have in their sights, the downtrend support drawn off the August 2020 low, which today intersects at 135-10. This week's breach of 136-01, Jan 12 low, reinforces the bearish theme and confirms a resumption of the downtrend from last year. Trend resistance has been defined at 137-02, Feb 11 high. Initial firm resistance is at 136-15.

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