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(H2)‌‌ Corrective Cycle Still In Play

US 10YR FUTURE TECHS
  • RES 4: 128-22+ High Jan 24
  • RES 3: 128-11+ High Feb 1
  • RES 2: 127-31 50-day EMA
  • RES 1: 127-12+ High Feb 24
  • PRICE: 126-14+ @ 20:27 GMT Feb 24
  • SUP 1: 126-03/125-17+ Low Feb 23 / Low Feb 10 and bear trigger
  • SUP 2: 125-06+ Low May 30 2019 (cont)
  • SUP 3: 125-04+ 2.00 proj of the Jan 13 - 19 - 24 price swing
  • SUP 4: 123-22+ 2.0% 10-dma envelope

Treasuries rallied Thursday to 127-12+ before giving back most of today’s gains. The climb however signals scope for an extension of the current corrective cycle and attention is on the 50-day EMA at 127-31. Note that MA studies still highlight a broader bearish trend condition and the 50-day EMA is seen as an important resistance point. On the downside watch support at 126.03, Feb 23 low and 125-17+, the Feb 10 low and bear trigger.

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