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(M2)‌‌ Bearish Trend Conditions

US 10YR FUTURE TECHS
  • RES 4: 129-03+/04 Trendline off Aug 4 ‘21 high (cont) / High Mar 7
  • RES 3: 127-14+/28-04 High Mar 9 / High Mar 8
  • RES 2: 126-24 20-day EMA
  • RES 1: 126-13+ High Mar 11
  • PRICE: 125-00+ @ 11:03 GMT Mar 15
  • SUP 1: 124-18 Intraday low
  • SUP 2: 124-15 Low May 232019 (cont)
  • SUP 3: 124-01 Low May 21 2019 (cont)
  • SUP 4: 123-19+ 150.0% retracement of the Feb 10 - Mar 7 climb

Treasuries started the week on a softer note and traded sharply lower Monday. A bearish theme dominates. Monday’s weakness resulted in a break of key support at 125-14+, the Feb 10 low and a bear trigger. This confirms a resumption of the primary downtrend and marks an extension of the bearish price sequence of lower lows and lower highs. This has opened 124-15/01 next. On the upside, initial resistance is seen at 126-13+.

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