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MNI China Daily Summary: Thursday, March 23

MNI BRIEF: Taiwan's CBC Hikes Policy Rate 12.5bp to 1.875%

NORGES: FORECASTS SUGGEST POLICY RATE TO RISE TO AROUND 3.5%

Coming Up In The Asia-Pac Session on Thursday

EZ/UK Bond Supply Calendar: UK Long APF Sales on Monday

US EIA: CRUDE OIL STOCKS EX SPR +1.12M TO 481.2M MAR 17 WK

MNI: Freeland-Banks Well Capitalized, Budget To Focus Stimulus

MNI BRIEF: Joint European Funds Best Response To IRA-Gentiloni

MNI BRIEF: Fed, Treasury, FDIC-Big Banks Back First Republic

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(H3)‌‌ Recent Pullback Considered Corrective

US 10YR FUTURE TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income News
  • RES 4: 117-17+ 1.00 proj of the Nov 3 - Dec 13 - Dec 30 price swing
  • RES 3: 117-06+ 2.0% 10-dma env
  • RES 2: 117-00 High Sep 8 2022
  • RES 1: 115-21/116-08 High Jan 20 / 19 and the bull trigger
  • PRICE: 115-00 @ 11:11 GMT Jan 26
  • SUP 1: 114-16/14/13+ 20-day EMA / Low Jan 24
  • SUP 2: 114-09+ Low Jan 17 and a key support
  • SUP 3: 113-26+ Low Jan 10
  • SUP 4: 112-18+ Low Jan 5

Key resistance in Treasury futures is 116-08, the Jan 19 high. The latest pullback is considered corrective and the M/T trend condition is bullish. Moving average studies are in a bull mode position and a positive price sequence of higher highs and higher lows remains intact. On the continuation chart, the 200-dma has recently been pierced. A clear break would reinforce conditions. Key support is 114-09+, Jan 17 low. A break would concern bulls.

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  • RES 4: 117-17+ 1.00 proj of the Nov 3 - Dec 13 - Dec 30 price swing
  • RES 3: 117-06+ 2.0% 10-dma env
  • RES 2: 117-00 High Sep 8 2022
  • RES 1: 115-21/116-08 High Jan 20 / 19 and the bull trigger
  • PRICE: 115-00 @ 11:11 GMT Jan 26
  • SUP 1: 114-16/14/13+ 20-day EMA / Low Jan 24
  • SUP 2: 114-09+ Low Jan 17 and a key support
  • SUP 3: 113-26+ Low Jan 10
  • SUP 4: 112-18+ Low Jan 5

Key resistance in Treasury futures is 116-08, the Jan 19 high. The latest pullback is considered corrective and the M/T trend condition is bullish. Moving average studies are in a bull mode position and a positive price sequence of higher highs and higher lows remains intact. On the continuation chart, the 200-dma has recently been pierced. A clear break would reinforce conditions. Key support is 114-09+, Jan 17 low. A break would concern bulls.