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(H4) Corrective 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: 112-19 High Jan 4
  • PRICE: 112-03 @ 11:38 GMT Jan 10
  • SUP 1: 111-06+ Low Jan 05
  • SUP 2: 110-28 50-day EMA
  • SUP 3: 110-16 Low Dec 13
  • SUP 4: 109-31+ Low Dec 11 and a key short-term support

Treasuries remain in a short-term bearish corrective cycle. The print below the 20-day EMA does suggest scope for a continuation lower near-term. The next key pivot support lies at 110-28, the 50-day EMA. Moving average studies continue to suggest the medium-term trend direction is up. A recovery would refocus attention on the bull trigger at 113-12, the Dec 27 high. Clearance of this level resumes the uptrend.

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