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(M2)‌‌ Bearish Extension

US 10YR FUTURE TECHS
  • RES 4: 124–21+ 50-day EMA
  • RES 3: 124-18 High Mar 21
  • RES 2: 123-04 High Mar 31 and a key resistance
  • RES 1: 121-06+/22-19 High Apr 7 / 20-day EMA
  • PRICE: 119-25 @ 20:05 BST Apr 11
  • SUP 1: 119-17 Intraday low
  • SUP 2: 119-04+ Low Dec 3 2018 (cont)
  • SUP 3: 118-02+ 0.618 proj of the Mar 7 - 28 - 31 price swing
  • SUP 4: 117-22+ Low Nov 8 2018 (cont)

Treasuries started this week on a softer note, trading to a fresh cycle low of 119-17. The break lower once again confirms a resumption of the primary downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies are also pointing south and scope is seen for a move towards 119-04+ next, the Dec 3 2018 low (cont). Key short-term trend resistance has been defined at 123-04, the Mar 31 high.

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