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(H1)‌‌ Bullish Theme Intact

US 10YR FUTURE TECHS
  • RES 4: 138-05+ High Jan 4
  • RES 3: 137-29+ High Jan 6
  • RES 2: 137-21+ 76.4% retracement of the Jan 4 - 12 sell-off
  • RES 1: 137-20+ High Jan 27
  • PRICE: 137-09 @ 11:25 GMT Jan 28
  • SUP 1: 137-07 20-day EMA
  • SUP 2: 136-30 Low Jan 25
  • SUP 3: 136-23+ Low Jan 21
  • SUP 4: 136-16 Low Jan 14

Treasuries traded higher Wednesday and continues to hold onto recent gains. The outlook remains bullish. Monday's strong rally highlights an acceleration of the current upleg and this week's follow through reinforces the positive sentiment. Attention is on the 50-day EMA that has been probed. A close above this average would strengthen a bullish case and set the scene for a climb towards 137-29+, the Jan 6 high. 136-30 is a firm support, Jan 25 low.

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