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(H3)‌‌ Short-Term Corrective Bounce

US 10YR FUTURE TECHS
  • RES 4: 114-17 76.4% retracement of the Dec 13 - 30 bear leg
  • RES 3: 114-01+ High Dec 21
  • RES 2: 113-15+ High Dec 23
  • RES 1: 113-09+ 20-day EMA
  • PRICE: 112-28+ @ 11:50 GMT Jan 3
  • SUP 1: 112-12+/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

Treasury futures have recovered from the late December lows and the contract is firmer today. The trend condition remains bearish and short-term gains appear to be a correction. Recent weakness through a number of support points suggest scope for a continuation lower near-term. A resumption of weakness would open 111-27+ next, a Fibonacci retracement. On the upside, resistance to watch is at 113-09+, the 20-day EMA.

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