March 25, 2022 14:09 GMT
(M2) Fresh Cycle Low
US 10YR FUTURE TECHS
- RES 4: 126-04 High Mar 14
- RES 3: 125-00+ 20-day EMA
- RES 2: 123-25+ Low Mar 16 and a recent breakout level
- RES 1: 123-12 High Mar 23
- PRICE: 121-29+ @ 13:58 GMT Mar 25
- SUP 1: 121-27 Intraday low
- SUP 2: 121-15+ Low Mar 4 2019 (cont)
- SUP 3: 121-02 Low Jan 18 2019 (cont)
- SUP 4: 120.28 Low Dec 26 2018 (cont)
Treasuries have traded lower and cleared Wednesday’s low of 122-12. The break reinforces bearish conditions and confirms a resumption of the current downtrend. Furthermore, the move maintains the bearish price sequence of lower lows and low highs that clearly highlights current sentiment. Moving average conditions are bearish too. The focus shifts to 121-15+ next, the Mar 4 2019 low (cont). Initial resistance is at 123-12, Mar 23 high.
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