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(H2)‌‌ Remains In A Corrective Cycle

US 10YR FUTURE TECHS
  • RES 4: 128-22+ High Jan 24
  • RES 3: 128-11+ High Feb 1
  • RES 2: 127-29 50-day EMA
  • RES 1: 127-12+ High Feb 24
  • PRICE: 126-06+ @ 19:47 GMT Feb 25
  • SUP 1: 126-00/125-17+ Low Feb 25 / 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: 123-21+ 2.0% 10-dma envelope

Treasuries rallied Thursday to a high of 127-12+ before retracing to give back its gains. The climb however does signal scope for an extension of the current corrective cycle and attention remains on the 50-day EMA at 127-29. Note that MA studies still highlight a broader bearish trend condition and the 50-day EMA is seen as an important resistance. On the downside watch key support at 125-17+, the Feb 10 low and bear trigger.

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