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‌‌(H3)‌‌ Recent Pullback Considered Corrective

  • 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: 114-23+ @ 16:28 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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