January 24, 2025 11:29 GMT
US 10YR FUTURE TECHS: (H5) Gains Considered Corrective
US 10YR FUTURE TECHS
- RES 4: 110-25 High Dec 12
- RES 3: 109-31 High Dec 18
- RES 2: 109-14 50-day EMA
- RES 1: 109-04/109-06 High Jan 21 / High Dec 31
- PRICE: 108-13+ @ 11:16 GMT Jan 24
- 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
The medium-term trend condition in Treasury futures is unchanged and the direction remains down. The recovery that started Jan 13 is considered corrective. The contract has traded through the 20-day EMA, at 108-17. This exposes 109-06, the Dec 31 high, and 109-14, the 50-day EMA. A clear break of the 50-day average is required to strengthen a bullish theme. The bear trigger is unchanged at 107-06, the Jan 13 low.
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