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(M1)‌‌ Gains Considered Corrective

US 10YR FUTURE TECHS
  • RES 4: 133-23 High Mar 2
  • RES 3: 132-31/133-00+ 50-day EMA / High Mar 11
  • RES 2: 132-09+High Mar 25
  • RES 1: 132-06 Intraday high
  • PRICE: 131-30+ @ 11:51 BST Apr 14
  • SUP 1: 131-12 Low Apr 13
  • SUP 2: 131-03+Low Apr 6
  • SUP 3: 130-25+Low Apr 5 and the bear trigger
  • SUP 4: 130-14/07 Lower 3.0% Bollinger Band / Low Feb 2, 2020

US 10y futures earlier today probed initial resistance at 132-03, Apr 8 high. The broader outlook is unchanged though and the trend condition remains bearish. Gains are considered corrective. The recent breach of 131-00, Mar 18 low maintains the bearish price sequence of lower lows and lower highs and opens 130-07 and the 130-00 handle. A break of 132-09+, Mar 25 high would instead signal scope for a stronger correction.

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