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(H1)‌‌ Bearish Theme

US 10YR FUTURE TECHS
  • RES 4: 138-08 High Nov 20 / 30, Dec 21 and a bull trigger
  • RES 3: 137-29+ High Jan 6
  • RES 2: 137-19+ Low Dec 16
  • RES 1: 137-08+ Low Dec 2
  • PRICE: 136-22 @ 11:18 GMT Jan 11
  • SUP 1: 136-14+ Low Jan 8
  • SUP 2: 136-04+ 1.00 proj of the Nov 5 - 11 sell-off from Nov 30 high
  • SUP 3: 136-00 Round number support
  • SUP 4: 133-21 Low Mar 19

Treasuries remain weak despite recovering off earlier lows. Futures last week cleared support at 136-26, Nov 11 low and 136-22, June low. The break confirms a resumption of the downtrend that started Aug 2020. This signals scope for weakness towards 136-04+ next, the 1.00 projections of the Nov 5 - 11 sell-off. Initial resistance is seen at 137-08+, Dec 2 low. Price would need to get back above 137-19+ to ease the bearish threat.

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