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(H1)‌‌ Retracement Extends

US 10YR FUTURE TECHS
  • RES 4: 137-29+ High Jan 6
  • RES 3: 137-21+ 76.4% retracement of the Jan 4 - 12 sell-off
  • RES 2: 137-20+ High Jan 27 and the bull trigger
  • RES 1: 137-10+ High Jan 29
  • PRICE: 136-25 @ 11:25 GMT Feb 4
  • SUP 1: 136-21 Low Jan 21 / Feb 3
  • SUP 2: 136-20+ 61.8% retracement of the Jan 12 - 27 rally
  • SUP 3: 136-16 Low Jan 14
  • SUP 4: 135-24+ 1.0% 10-dma Envelope

Treasuries are lower still and yesterday traded through 136-28+, Jan 29 low. Price action is retracing the recent rally between Jan 12 - 27 and has cleared the 50% level at 136-27. The 61.8% retracement is at 136-20+. The recent focus had been on the potential for stronger gains however this is on hold for now. The contract would need to trade above 137-10+, Jan 29 high to refocus attention on the bull trigger at 137-20+, Jan 27 high.

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