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US 10YR FUTURE TECHS
  • RES 4: 137-29+ High Jan 6
  • RES 3: 137-19+ Low Dec 16 and 50-day EMA
  • RES 2: 137-07+ Low Dec 4
  • RES 1: 137-06 20-day EMA
  • PRICE: 136-30 @ 16:00 GMT Jan 21
  • 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 although the pace of the recovery from 136-01, Jan 12 low appears to be slowing. Recent gains are still considered a correction allowing an oversold trend reading to unwind and MA studies continue to point south reinforcing a bearish theme. Resistance is at 137-07+, Dec 4 low with the 20-day EMA just below at 137-06. A break of 137-07+ would allow for a stronger recovery. The bear trigger is 136-01.

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