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(H4) Trend Direction Remains Down

US 10YR FUTURE TECHS
  • RES 4: 111-16+ High Feb 7
  • RES 3: 111-07 High Feb 13
  • RES 2: 110-24+ 50-day EMA
  • RES 1: 110-13 20-day EMA
  • PRICE: 109-18+ @ 19:15 GMT Feb 27
  • SUP 1: 109-09 Low Feb 23
  • 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

The trend direction in Treasuries is unchanged and remains down with the contract trading closer to its recent lows. Price has pierced 109-17, 50.0% of the Oct - Dec bull cycle. A clear break of this retracement would strengthen the bearish condition and signal scope for an extension towards 108-19+, the 61.8% Fibonacci level. On the upside, initial firm resistance is seen at 110-24+, the 50-day EMA.

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