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(H3)‌‌ Approaching Key Resistance

US 10YR FUTURE TECHS
  • RES 4: 117-00 61.8% retracement of the Aug - Oct bear leg (cont)
  • RES 3: 116-28 0.618 proj of the Dec 30 - Jan 19 - 30 price swing
  • RES 2: 116-11+ 0.50 proj of the Dec 30 - Jan 19 - 30 price swing
  • RES 1: 116-08 High Jan 19 and the bull trigger
  • PRICE: 115-27 @ 14:13 GMT Feb 2
  • SUP 1: 115-10/114-19+ Intraday low / 20-day EMA
  • SUP 2: 114-05+ Low Jan 30 and a key short-term support
  • SUP 3: 114-02+ 50-day EMA
  • SUP 4: 113-17+ 61.8% retracement of the Dec 30 - Jan 19 bull leg

Treasury futures are firmer today, extending Wednesday's strong rally. The latest recovery eases a recent bearish threat and a key support has been defined at 114-05+, the Jan 30 low. A break of this level is required to reinstate a bearish theme. On the upside, the continuation higher has exposed the bull trigger at 116-08, the Jan 19 high. A move above 116-08, would confirm a resumption of the uptrend that started Oct 21 last year.

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