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‌‌(H1)‌‌ Corrective Bounce

US 10YR FUTURE TECHS
  • RES 4: 137-19+ Low Dec 16
  • RES 3: 137-08+ Low Dec 2
  • RES 2: 137-00 Round number resistance
  • RES 1: 136-26+ Low Nov 11 and recent break out level
  • PRICE: 136-14 @ 11:54 GMT Jan 13
  • SUP 1: 136-01 Low Jan 12
  • SUP 2: 135-25+ 76.4% of the Mar - Aug rally
  • SUP 3: 135-08 23.6% 2018-2020 Rally
  • SUP 4: 133-21 Low Mar 19

Treasuries secured the sixth consecutive session of losses Tuesday, a losing streak not seen since mid-October. Price has recovered off recent lows however, this is considered a correction with bearish conditions still dominating. The breach of 136-04+, 1.00 projection of the Nov 5 - 11 sell-off from the Nov 30 high reinforces a bearish theme and opens 135.08, a Fibonacci retracement. Short-term gains are considered a correction.

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