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(M2)‌‌ Eyeing Support And The Bear Trigger

US 10YR FUTURE TECHS
  • RES 4: 125-17 50-day EMA
  • RES 3: 124-28+ High Mar 17
  • RES 2: 123-19+ 20-day EMA
  • RES 1: 123-04/12 High Mar 31 / High Mar 23
  • PRICE: 121-24 @ 11:09 BST Apr 5
  • SUP 1: 120-30+ Low Mar 28 and the bear trigger
  • SUP 2: 120.28 Low Dec 26 2018 (cont)
  • SUP 3: 120-04+ Low Dec 12/13 2018 (cont)
  • SUP 4: 120.00 Low Dec 6 2018 (cont) and psychological support

Treasuries are trading lower today and remain below last week’s high. A bearish theme dominates and recent short-term gains appear to be a correction. Initial resistance at 123-12, Mar 23 high, remains in place and this lies ahead of the 20-day EMA, at 123-19+. Attention is on the recent low of 120-30+ (Mar 28), where a break would confirm a continuation of the downtrend and open the 120-00 handle.

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