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‌‌(H3)‌‌ Bullish Weekly Close

US 10YR FUTURE TECHS
  • RES 4: 115-11+ High Dec13 and bull trigger
  • RES 3: 115-04+ 2.0% 10-dma envelope
  • RES 2: 114-17 76.4% retracement of the Dec 13 - 30 bear leg
  • RES 1: 114-06+ High Jan 6
  • PRICE: 114-04 @ 16:20 GMT Jan 6
  • SUP 1: 112-18+/111-28 Intraday low / Low Dec 30
  • SUP 2: 111-27+ 61.8% retracement of the Nov 3 - Dec 13 rally
  • SUP 3: 111-01 76.4% retracement of the Nov 3 - Dec 13 rally
  • SUP 4: 110-22 Low Nov 10

The week’s recovery in Treasury futures accelerated into the Friday close for a bullish finish. Prices took out nearby resistance at the late December highs as well as the 100-dma to open strength toward the next key level: the bull trigger at 115-11+. Markets will have to first content with a Fib retracement at 114-17 and vol-band resistance at 115-04+, however. The previous short-term bearish phase has now concluded, but markets will be wary of the sell-on-rallies theme making a return. There remains scope for a continuation lower, which would open 111-27+ next, a Fibonacci retracement.

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