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(M2)‌‌ Cracks Key Support

US 10YR FUTURE TECHS
  • RES 4: 129-03+/04 Trendline off Aug 4 ‘21 high (cont) / High Mar 7
  • RES 3: 128-04 High Mar 8
  • RES 2: 126-30+ 20-day EMA
  • RES 1: 126-13+ High Mar 11
  • PRICE: 125-13 @ 11:10 GMT Mar 14
  • SUP 1: 125-05 Intraday low
  • SUP 2: 124-27 Low May 24 2019 (cont)
  • SUP 3: 124-15 Low May 23 2019 (cont)
  • SUP 4: 124-01 Low May 21 2019 (cont)

Treasuries have started the week on a softer note and maintain last week’s bearish theme. Today’s weakness has resulted in a break of key support at 125-14+, the Feb 10 low and the bear trigger. The break 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 124-27 next. On the upside, initial resistance is seen at 126-13+, Friday’s high.

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