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Bullish Outlook


Trend Needle Still Points South


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Risk-On Sentiment Dominates

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(H2)‌‌ Support Remains Exposed

  • RES 4: 129-31 Low Dec 8
  • RES 3: 129-16 50-day EMA
  • RES 2: 129.14 High Jan 5
  • RES 1: 128-19/27 20-day EMA / High Jan 13
  • PRICE: 127-21 @ 16:57 GMT Jan 27
  • SUP 1: 127-06+/02 Low Jan 26 / Low Jan 19 and the bear trigger
  • SUP 2: 127-00+ Low Jul 31, 2019 (cont)
  • SUP 3: 126-23 Low Jul 17, 2019 (cont)
  • SUP 4: 126-10+ 61.8% retracement of the 2018 - 2020 bull cycle

Treasuries dipped Wednesday in response to the Fed rate decision and price remains near its recent lows. This keeps the broader downtrend intact. A bearish theme follows the recent break of support at 127-30, Jan 10 low. Furthermore, moving average studies remain in a bear mode, clearly highlighting current sentiment. 127-02, Jan 19 low, is the bear trigger for a resumption of the downtrend. Key S/T resistance is at 128-27, Jan 13 high.

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