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(H3)‌‌ Bull Cycle Extends

US 10YR FUTURE TECHS
  • RES 4: 117-17+ 1.00 proj of the Nov 3 - Dec 13 - Dec 30 price swing
  • RES 3: 117-00 High Sep 8 2022
  • RES 2: 116-22 2.0% 10-dma env
  • RES 1: 116-08 Intraday high
  • PRICE: 115-24+ @ 11:45 GMT Jan 19
  • SUP 1: 115-11+ High Dec 13 and a recent breakout
  • SUP 2: 114-09+ Low Jan 17 and a key support
  • SUP 3: 114-03+ 20-day EMA
  • SUP 4: 113-26+ Low Jan 10

Treasury futures traded higher yesterday to confirm a resumption of the current bull cycle. The move higher maintains the positive price sequence of higher highs and higher lows and note that moving average studies are highlighting a bullish backdrop. On the continuation chart, the 200-dma has been pierced. The break higher opens 116-22, the upper band of a moving average envelope. Key S/T support to watch is at 114-09+, the Jan 17 low.

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