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(H2)‌‌ Fresh Cycle Low

US 10YR FUTURE TECHS
  • RES 4: 129-14 High Jan 5
  • RES 3: 128-22+ High Jan 24
  • RES 2: 128-20 50-day EMA
  • RES 1: 127-01/24 High Feb 7 / High Feb 4
  • PRICE: 126-04+ @ 15:17 GMT Feb 11
  • SUP 1: 125-17+ Low Feb 10
  • 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: 124-22 2.0% 10-dma envelope

Treasuries resumed their downtrend Thursday, solidifying the bearish trend condition. The contract cleared a layer of support between 126-01 and 125-10+ and delivered a fresh cycle low. Thursday’s price action also highlights a continuation of the bearish price sequence of lower lows and lower highs. The focus turns to 125-06 next+, the 30 May 2019 (cont). Firm resistance is seen at 127-01.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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