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(H2)‌‌ Resumes Its Downtrend

  • RES 4: 129-29+ 50-day EMA
  • RES 3: 129-09 20-day EMA
  • RES 2: 128-27 High Jan 13
  • RES 1: 128-01+ Intraday high
  • PRICE: 127-22+ @ 16:15 GMT Jan 18
  • SUP 1: 127-15 Intraday low
  • SUP 2: 127-07 2.236 proj of the Dec 20 - 29 - 31 price swing
  • SUP 3: 127-00 Round number support
  • SUP 4: 126-26+ 2.50 proj of the Dec 20 - 29 - 31 price swing

Treasuries have started the week on a softer note, breaking lower and clearing support at 127-30, Jan 10 low. The move confirms a resumption of the underlying downtrend and clears the way for weakness towards 127-07 next, a Fibonacci projection. Moving average studies remain in a bear mode condition, highlighting the current trend direction. On the upside, a firm short-term resistance has been defined at 128-27, Jan 13 high.

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