January 30, 2025 11:25 GMT
US 10YR FUTURE TECHS: (H5) Bull Cycle Remains In Play
US 10YR FUTURE TECHS
- RES 4: 110-25 High Dec 12
- RES 3: 110-19 76.4% retracement of the Dec 6 - Jan 13 bear leg.
- RES 2: 109-31 High Dec 18
- RES 1: 109-11+/12 50-day EMA / High Jan 27
- PRICE: 109-08+ @ 11:14 GMT Jan 30
- SUP 1: 108-00/107-06 Low Jan 16 / 13 and the bear trigger
- SUP 2: 107-04 Low Apr 25 ‘24 and a key support
- SUP 3: 107-00 Round number support
- SUP 4: 106-11 2.00 proj of the Oct 1 - 14 - 16 price swing
A bullish corrective cycle in Treasury futures remains intact and the contract is holding on to its recent gains. 109-11+, the 50-day EMA, remains exposed. A clear break of it would strengthen a bullish theme and open 109-31, the Dec 18 high. The medium-term trend condition is bearish. The bear trigger is 107-06, the Jan 13 low. Initial support has been defined at 108-00, the Jan 16 low.
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