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(H3)‌‌ Watching Support At The 50-Day EMA

US 10YR FUTURE TECHS
  • RES 4: 117-00 High Sep 8 2022
  • RES 3: 116-08 High Jan 19 and the bull trigger
  • RES 2: 115-21 High Jan 20
  • RES 1: 114-30/115-13 Intraday high / High Jan 25
  • PRICE: 114-26 @ 11:08 GMT Feb 1
  • SUP 1: 114-05+ Low Jan 30
  • SUP 2: 114-00+ 50-day EMA
  • SUP 3: 113-17+ 61.8% retracement of the Dec 30 - Jan 19 bull leg
  • SUP 4: 112-29 76.4% retracement of the Dec 30 - Jan 19 bull leg

Treasury futures have recovered from recent lows. A bearish threat remains present following the recent move lower. The contract has breached the Jan 17 low of 114-09+. This undermines the recent bull theme and signals scope for a deeper retracement. Next support undercuts at the 50-day EMA, at 114-00+ - a key support. On the upside a key short-term resistance is at 115-13, the Jan 25 high. A break would ease any developing bearish threat.

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