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(H1)‌‌ Under Pressure

US 10YR FUTURE TECHS
  • RES 4: 137-19+ Low Dec 16
  • RES 3: 137-08+ Low Dec 2
  • RES 2: 137-00 Round number resistance
  • RES 1: 136-26+ Low Nov 11 and recent break out level
  • PRICE: 136-07 @ 11:51 GMT Jan 12
  • SUP 1: 136-05+ Intraday low
  • SUP 2: 136-04+ 1.00 proj of the Nov 5 - 11 sell-off from Nov 30 high
  • SUP 3: 136-00 Round number support
  • SUP 4: 133-21 Low Mar 19

Treasuries remain weak and continue to trend lower. Futures last week cleared support at 136-26+, Nov 11 low. The break confirmed a resumption of the downtrend that started Aug 2020 with the focus on 136-04+ next, 1.00 projections of the Nov 5 - 11 sell-off from the Nov 30 high. Initial resistance is seen at 136-26+, ahead of the 137-00 handle. Short-term gains would be considered a correction.

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