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(M2)‌‌ Approaching 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: 129-04/06 High Mar 7 / Trendline off Aug 4 ‘21 high (cont)
  • RES 1: 127-05+/128-04 20-day EMA / High Mar 8
  • PRICE: 126-02+ @ 16:34 GMT Mar 10
  • SUP 1: 125-29 Low Feb 25
  • 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 extended this week’s bear leg Thursday. The contract has breached 126-10, 76.4% of the Feb 10 - Mar 7 rally. The break of 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 125-29, the Feb 25 low ahead of the key support and bear trigger at 125-14+. A break of 125-14+ would confirm a resumption of the broader downtrend.

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