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(H3)‌‌ Trend Needle Points North

US 10YR FUTURE TECHS
  • RES 4: 116-04 2.0% 10-dma env
  • RES 3: 116-00 Round number resistance
  • RES 2: 115-26 2.00 proj of the Oct 21 - 27 - Nov 3 low
  • RES 1: 115-15+ High Jan 13
  • PRICE: 114-20+ @ 11:17 GMT Jan 16
  • SUP 1: 113-26+/17 20- and 50-day EMA values
  • SUP 2: 112-18+/111-28 Low Jan 5 / Low Dec 30 and the bear trigger
  • SUP 3: 111-27+ 61.8% retracement of the Nov 3 - Dec 13 rally
  • SUP 4: 111-01 76.4% retracement of the Nov 3 - Dec 13 rally

Treasury futures maintain a bullish tone but have pulled back from last week’s highs - a move lower is considered corrective. Price has recently pierced resistance at 115-11+, high Dec 13. A clear break would strengthen bullish conditions and open 115-26, a Fibonacci projection. Price has recently cleared the 100-dma and this reinforces the bullish theme. On the downside, initial support lies at 113-26+, the 20-day EMA.

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