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(M2)‌‌ Edging Off Highs

  • 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: 129-00 Round number resistance
  • RES 1: 128-31+ High Mar 1
  • PRICE: 127-15+ @ 16:18 GMT Mar 2
  • SUP 1: 126-30 20-day EMA
  • SUP 2: 125-29 Low Feb 25
  • SUP 3: 125-14+ Low Feb 10 and the bear trigger
  • SUP 4: 125-06+ Low May 30 2019 (cont)

Treasuries edged lower throughout the Wednesday session, undoing much of the Tuesday rally. Nonetheless, this week’s gains have resulted in a break of both the 20- and 50-day EMAs and the break of the latter EMA strengthens the current bullish theme. Resistance at 128-17, Jan 24 high was breached Tuesday. This signals scope for a climb towards the 129-00 handle next. On the downside, the 20-day EMA is seen as an initial firm support. It intersects at 126-30.

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