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(H3) Near-Term Weakness Extends
- RES 4: 115-22+ High Feb 3
- RES 3: 115-00 Round number resistance
- RES 2: 114-06+ 20-day EMA
- RES 1: 114-00+ 50-day EMA
- PRICE: 111-28 @ 16:01 GMT Feb 17
- SUP 1: 111-10 Lower 2.0% Bollinger Band
- SUP 2: 111-08+ Low Feb 17
- SUP 3: 110-21+ 2.0% 10-dma envelope
- SUP 4: 109-22 Low Nov 3
Near-term weakness extends across Treasury futures, putting prices at new pullback lows of 111-08+. This puts the contract through the early January lows, opening medium-term losses toward levels not seen since November. The strengthening bearish theme exposes 109-22 over the medium-term, the Nov 3 low. Key short-term resistance is seen at the 50-day EMA which intersects at 113-25+. A break of this EMA would ease bearish pressure.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.