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(H4) Bear Leg Extends

US 10YR FUTURE TECHS
  • RES 4: 114-00 Round number resistance
  • RES 3: 113-12 High Dec 27 and the bull trigger
  • RES 2: 111-11/113-06+ 20-day EMA / High Feb 1
  • RES 1: 110-16 Low Feb 9
  • PRICE: 109-27 @ 13:38 GMT Feb 13
  • SUP 1: 109-17 50.0% of the Oct 19 - Dec 27 bull phase
  • SUP 2: 109-05+ Low Nov 28
  • SUP 3: 108-19+ 61.8% of the Oct 19 - Dec 27 bull phase
  • SUP 4: 108-14 Low Nov 15

A bear threat in Treasuries remains present and today’s steep sell-off reinforces the current bearish theme. The break lower confirms a resumption of the downleg that started Dec 27. The 110-00 handle has been cleared and sights are on 109-17, a Fibonacci retracement. Clearance of this level would further strengthen the bearish theme. Initial firm resistance is at 111-11, the 20-day EMA.

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