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(M2)‌‌ Approaching Its Key Support

US 10YR FUTURE TECHS
  • RES 4: 129-31 Low Dec 8 (cont)
  • RES 3: 129-13 3.00 proj of the Feb 10 - 14 - 15 price swing
  • RES 2: 129-04/05 High Mar 7 / Trendline off Aug 4 ‘21 high (cont)
  • RES 1: 127-02/128-04 20-day EMA / High Mar 8
  • PRICE: 125-30+ @ 11:52 GMT Mar 11
  • SUP 1: 125-28+ Intraday low
  • SUP 2: 125-14+ Low Feb 10 and the bear trigger
  • SUP 3: 125-06+ Low May 30 2019 (cont)
  • SUP 4: 124-27 Low May 24 2019 (cont)

Treasuries remain softer following this week’s bear cycle. The contract has breached 126-10, 76.4% of the Feb 10 - Mar 7 rally. The move through this level strengthens a bearish threat and while the pullback is considered corrective, there is potential for a deeper pullback. The next support to watch is the key support and bear trigger at 125-14+. A break would instead confirm a resumption of the broader downtrend.

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