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(H2)‌‌ Trend Needle Still Points South

US 10YR FUTURE TECHS
  • RES 4: 128-22+ High Jan 24
  • RES 3: 128-01+ 50-day EMA
  • RES 2: 127-24 High Feb 4
  • RES 1: 127-09 High Feb 22
  • PRICE: 126-09+ @ 11:42 GMT Feb 23
  • SUP 1: 125-17+ Low Feb 10 and the 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: 123-23+ 2.0% 10-dma envelope

Treasuries on Tuesday, faded off levels just above the 20-day EMA (126-12). The trend outlook remains bearish and recent gains are considered corrective. Moving average studies point south and a price sequence of lower lows and lower highs remains intact. The bear trigger is unchanged 125-17+, the Feb 10 low. On the upside, a resumption of gains would expose the 50-day EMA at 128-01+.

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