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(H2)‌‌ Triangle Pattern Reinforces Bear Theme

US 10YR FUTURE TECHS
  • RES 4: 129-31 Low Dec 8
  • RES 3: 129.14 High Jan 5
  • RES 2: 129-05 50-day EMA
  • RES 1: 128-10+/22+ 20-day EMA / High Jan 24
  • PRICE: 127-20 @ 16:13 GMT Feb 3
  • 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 trade lower on the day. A potential triangle formation since Jan 19, has appeared on the daily chart. Triangles are continuation patterns and this reinforces the underlying bearish theme. Attention is on the key support at 127-02, Jan 19 low where a break would confirm a resumption of the downtrend. Key resistance is unchanged at 128-27, Jan 13 high. A breach of this hurdle would signal a short-term reversal.

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