(H4) Bear Threat Remains Present

• 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: 111-23+/112-26+ 20-day EMA / High Jan 12
• PRICE: 111-05 @ 16:46 GMT Jan 24
• 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

Treasuries sold off early strength through NY hours to put Treasuries at new daily lows through the European close. This keeps short-term trend conditions bearish. The contract traded lower last week, to a low of 110-26 on Jan 19. Price has pierced the 50-day EMA, at 111-03+ and support at 111-06+, the Jan 5 low. A clear break of both levels would undermine the recent bullish theme and signal scope for a deeper pullback, to 110-16, Dec 13 low. Firm resistance is 112-26+, the Jan 12 high. Initial resistance is at 112-23+, the 20-day EMA.