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(H3)‌‌ Corrective Pullback

US 10YR FUTURE TECHS
  • RES 4: 117-17+ 1.00 proj of the Nov 3 - Dec 13 - Dec 30 price swing
  • RES 3: 117-05 2.0% 10-dma env
  • RES 2: 117-00 High Sep 8 2022
  • RES 1: 116-08 High Jan 19
  • PRICE: 114-30 @ 11:38 GMT Jan 23
  • SUP 1: 114-16 Low Jan 18
  • SUP 2: 114-10+ 20-day EMA
  • SUP 3: 114-09+ Low Jan 17 and a key support
  • SUP 4: 113-26+ Low Jan 10

Treasury futures have pulled back from last week’s high of 116-08 on Jan 19. The move lower is considered corrective and trend conditions remain bullish. Last week’s trend highs maintain the positive price sequence of higher highs and higher lows - the definition of an uptrend. On the continuation chart, the 200-dma has been pierced. A clear break would reinforce current conditions. The focus is on 117-05. Key support to watch is 114-09+, Jan 17 low.

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  • RES 4: 117-17+ 1.00 proj of the Nov 3 - Dec 13 - Dec 30 price swing
  • RES 3: 117-05 2.0% 10-dma env
  • RES 2: 117-00 High Sep 8 2022
  • RES 1: 116-08 High Jan 19
  • PRICE: 114-30 @ 11:38 GMT Jan 23
  • SUP 1: 114-16 Low Jan 18
  • SUP 2: 114-10+ 20-day EMA
  • SUP 3: 114-09+ Low Jan 17 and a key support
  • SUP 4: 113-26+ Low Jan 10

Treasury futures have pulled back from last week’s high of 116-08 on Jan 19. The move lower is considered corrective and trend conditions remain bullish. Last week’s trend highs maintain the positive price sequence of higher highs and higher lows - the definition of an uptrend. On the continuation chart, the 200-dma has been pierced. A clear break would reinforce current conditions. The focus is on 117-05. Key support to watch is 114-09+, Jan 17 low.