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(M1)‌‌ Corrective Bounce

US 10YR FUTURE TECHS
  • RES 4: 133-03+ 50-day EMA
  • RES 3: 133-00+/06+ High Mar 11 / High Mar 4
  • RES 2: 132-09/09+ High Mar 17/24 / High Mar 25
  • RES 1: 131-31+ Mar 29 high
  • PRICE: 131-29 @ 16:48 GMT Apr 7
  • SUP 1: 130-25+ Low Apr 5 and the bear trigger
  • SUP 2: 130-07+/07 Lower 3.0% Bollinger Band / Low Feb 2, 2020
  • SUP 3: 129-19 Low Jan 24, 2020 (cont)
  • SUP 4: 128-29 Low Jan 17, 2020 (cont)

US 10y futures are higher. Gains though are considered corrective, a bearish theme dominates. The contract resumed its downtrend last week on the break of 131-00, Mar 18 low. This opens 130-07 and the psychological 130-00 handle. The move lower maintains the bearish sequence of lower lows and lower highs and together with bearish moving average conditions, reinforces the current sentiment. Key resistance is 132-09+, Mar 25 high.

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