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(H4) Challenging Support

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: 111-28+/112-26+ 20-day EMA / High Jan 12
  • PRICE: 111-09 @ 11:39 GMT Jan 19
  • SUP 1: 111-00 Intraday low
  • 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 have extended this week’s bearish move and the contract has traded to a fresh weekly low today. Price has pierced the 50-day EMA, at 111-0 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, opening 110-16, the Dec 13 low. Initial firm resistance has been defined at 112-26+, the Jan 12 high. A break would be a bullish development.

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