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(H1)‌‌ Trading Closer To The Week's Lows

US 10YR FUTURE TECHS
  • RES 4: 137-29+ High Jan 6
  • RES 3: 137-20+ High Jan 27 and the bull trigger
  • RES 2: 137-10+ High Jan 29
  • RES 1: 137-03+ 20-day EMA
  • PRICE: 136-22+ @ 11:39 GMT Feb 5
  • SUP 1: 136-19 Low Feb 4
  • SUP 2: 136-16 Low Jan 14
  • SUP 3: 136-13 76.4% retracement of the Jan 12 - 27 rally
  • SUP 4: 135-24+ 1.0% 10-dma Envelope

Treasuries managed to hit new multi-week lows Thursday. Price action is currently retracing the recent rally between Jan 12 - 27 and has probed the 61.8% level at 136-20+. This opens the 76.4% retracement at 136-13. The recent focus had been on the potential for a stronger recovery however this is on hold for now. Price needs 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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