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‌‌(H1)‌‌ Holding Onto Recent Corrective Gains

  • RES 4: 137-29+ High Jan 6
  • RES 3: 137-18 Low Dec 16 and 50-day EMA
  • RES 2: 137-07+ Low Dec 4
  • RES 1: 137-05 20-day EMA
  • PRICE: 137-02 @ 11:16 GMT Jan 25
  • SUP 1: 136-16 Low Jan 14
  • 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 are holding onto recent gains. The pace of the recent recovery from 136-01, Jan 12 low has slowed. The recovery is still considered a likely correction that has allowed an oversold trend reading to unwind. MA studies continue to point south highlighting a bearish theme. Resistance is at 137-07+, Dec 4 low with the 20-day EMA just below at 137-05. A break of 137-07+ would allow for a stronger recovery. The bear trigger is 136-01.

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