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(H4) Bear Cycle Still In Play

US 10YR FUTURE TECHS
  • RES 4: 114-06+ 2.00 proj of the Oct 19 - Nov 3 - Nov 13 price swing
  • RES 3: 114-00 Round number resistance
  • RES 2: 113-12 High Dec 27 and the bull trigger
  • RES 1: 111-18/112-26+ 20-day EMA / High Jan 12
  • PRICE: 111-13+ @ 11:35 GMT Jan 29
  • SUP 1: 110-26 Low Jan 19
  • SUP 2: 110-16 Low Dec 13
  • SUP 3: 109-31+ Low Dec 11 and a key short-term support
  • SUP 4: 109-17 50.0% of the Oct 19 - Dec 27 bull phase

The trend needle in Treasuries continues to point south and sights are on 110-26, the Jan 19 low. A break of this level would confirm a resumption of the current bear cycle and highlight a clear break of the 50-day EMA, at 111-03+. This would set the scene for a move towards 110-16, the Dec 13 low. Firm resistance is 112-26+, the Jan 12 high. Initial resistance is at 111-18, the 20-day EMA.

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