April 29, 2022 10:28 GMT
(M2) Bearish Trend Outlook
US 10YR FUTURE TECHS
- RES 4: 122-20+ 50-day EMA
- RES 3: 122-12+ High Apr 4
- RES 2: 121-09 High Apr 14 and a reversal point
- RES 1: 120-18+ High Apr 27 and key resistance
- PRICE: 119-06+ @ 11:17 BST Apr 29
- SUP 1: 118-08 Low Apr 22 and the bear trigger
- SUP 2: 118-02+ 0.618 proj of the Mar 7 - 28 - 31 price swing
- SUP 3: 117-22+ Low Nov 8 2018 (cont)
- SUP 4: 116-28 0.764 proj of the Mar 7 - 28 - 31 price swing
Treasuries have pulled back from Wednesday’s high of 120-18+. The trend outlook remains bearish. Moving average studies are in a bear mode and fresh cycle lows last week confirmed a resumption of the primary downtrend and an extension of the bearish price sequence of lower lows and lower highs. The focus is on 118-02+ next, a Fibonacci projection. Key short-term resistance has been defined at 120-18+, the Apr 27 high.
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