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‌‌(H1)‌‌ Remains Vulnerable

  • RES 4: 138-12 High Nov 9
  • RES 3: 138-08 High Nov 20 / 30, Dec 21 and a bull trigger
  • RES 2: 137-29+ High Jan 6
  • RES 1: 137-19+ Low Dec 16
  • PRICE: 137-06 @ 10:52 GMT Jan 7
  • SUP 1: 137-00+ Intraday low
  • SUP 2: 136-26+ Low Nov 11 and a bear trigger
  • SUP 3: 136-21+ 61.8% retracement of the mar - Aug rally (cont)
  • SUP 4: 136-00 Round number support

Treasuries traded sharply lower yesterday and remain vulnerable. The move lower breached a key support at 137-07+, low Dec 4. From a technical standpoint, a clear break of this level opens 137.00 and more importantly, 136.26+, Nov 11 low. The latter is a key bear trigger. On the upside, initial resistance is seen at 137-19+, Dec 16 low. Firmer resistance is at yesterday's high of 137-29+.

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