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(H2)‌‌ Eyeing Key Support

US 10YR FUTURE TECHS
  • RES 4: 131-21 High Sep 24
  • RES 3: 131-19 High Dec 20 and key resistance
  • RES 2: 130-18+/28+ High Dec 31 / High Dec 22
  • RES 1: 129-31 Low Dec 8 and a recent breakout level
  • PRICE: 129-02+ @ 16:32 GMT Jan 5
  • SUP 1: 128-30+ Low Nov 26
  • SUP 2: 128-26+ 1.0% 10-dma Envelope
  • SUP 3: 128-22+ Low Nov 22 and key support
  • SUP 4: 128-00 Round number support

Treasuries remain soft - Tuesday’s move lower underlines the vulnerability of the contract in early 2022 following the sell-off Monday that resulted in a break of 129-31, Dec 8 low. Scope is seen for a move towards 128-30+, Nov 26 low and the major support at 128-22+, the Nov 24 low and bear trigger. Initial firm resistance is seen at 130-18+, Dec 31 high. A break of this level would ease bearish pressure.

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