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(H4) Corrective Cycle Remains 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: 112-15+/112-26+ Intraday high / High Jan 12
  • PRICE:112-05 @ 19:07 GMT Jan 31
  • SUP 1: 111-18/110-26 20-day EMA / Low Jan 19 and bear trigger
  • 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

A bearish trend condition in Treasuries remains intact for now and recent gains appear to be a correction. However, the recovery does suggest scope for an extension near-term. Initial resistance is at 112-15+, today’s intraday high. The key short-term resistance is at 112-26+, the Jan 12 high. Clearance of this level would be a bullish development. For bears, key support and the bear trigger lies at 110-26, the Jan 19 low.

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