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Impulsive Bull Wave Extends

US 10YR FUTURE TECHS
  • RES 4: 116-28+ High Jan 19 and key resistance
  • RES 3: 116-08 High Feb 2
  • RES 2: 116-00 Round number resistance
  • RES 1: 115-13 High Mar 13
  • PRICE: 114-17 @ 16:44 GMT Mar 13
  • SUP 1: 114-00 Round number support and the Feb 14 high
  • SUP 2: 113-10 High Mar 10
  • SUP 3: 112-31+ 50-day EMA
  • SUP 4: 112-21 Low Mar 13

Treasury futures have started the week on a firm note as the contract extends last week’s strong impulsive gains through to the Monday close. A number of important Fibonacci retracement points have been cleared and 115-03+, the 76.4% retracement of the bear leg between Feb 2 - Mar 2, has been pierced. A clear breach of 115-03+ would signal scope for a climb towards the 116-00 handle next. Initial firm support lies at 112-31+, the 50-day EMA.

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