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(H1)‌‌ Off Recent Highs

  • 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: 137-04 @ 11:16 GMT Jan 29
  • SUP 1: 137-00 Round number support
  • SUP 2: 136-30 Low Jan 25
  • SUP 3: 136-23+ Low Jan 21
  • SUP 4: 136-16 Low Jan 14

Treasuries have found resistance at 137-20+, Jan 27 high. The outlook remains bullish however price needs to climb above Wednesday's high to confirm a resumption of recent gains. A deeper pullback would expose support at 136-30, the Jan 25 low and a key near-term support. A breach of this level would be a concern for bulls and risk a move towards 136-23+, Jan 21 low.

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