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US 10YR FUTURE TECHS: (H5) Trading Below Recent High

US 10YR FUTURE TECHS
USFixed Income Technical AnalysisBulletMarketsFixed Income BulletsNorth America
  • 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: 109-10/15+ 50-day EMA / High Feb 3 
  • PRICE:‌‌ 108-25+ @ 12:20 GMT Feb 4
  • SUP 1: 108-24/21+ 20-day EMA / Low Feb 3
  • SUP 2: 108-06/107-06 Low Jan 23 / 13 and the bear trigger 
  • SUP 3: 107-04   Low Apr 25 ‘24 and a key support 
  • SUP 4: 106-11   2.00 proj of the Oct 1 - 14 - 16 price swing  

Treasury futures continue to trade below their recent highs. A corrective cycle remains in play and the contract is holding on to the bulk of its recent gains. Key resistance at 109-10, the 50-day EMA, has been pierced. A clear break of it would strengthen a bullish theme and open 109-31, the Dec 18 high. The medium-term trend condition remains bearish. The bear trigger is 107-06, the Jan 13 low. Initial firm support is 108-06, the Jan 23 low.

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  • 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: 109-10/15+ 50-day EMA / High Feb 3 
  • PRICE:‌‌ 108-25+ @ 12:20 GMT Feb 4
  • SUP 1: 108-24/21+ 20-day EMA / Low Feb 3
  • SUP 2: 108-06/107-06 Low Jan 23 / 13 and the bear trigger 
  • SUP 3: 107-04   Low Apr 25 ‘24 and a key support 
  • SUP 4: 106-11   2.00 proj of the Oct 1 - 14 - 16 price swing  

Treasury futures continue to trade below their recent highs. A corrective cycle remains in play and the contract is holding on to the bulk of its recent gains. Key resistance at 109-10, the 50-day EMA, has been pierced. A clear break of it would strengthen a bullish theme and open 109-31, the Dec 18 high. The medium-term trend condition remains bearish. The bear trigger is 107-06, the Jan 13 low. Initial firm support is 108-06, the Jan 23 low.