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(M2)‌‌ Fresh Cycle Low And Probes 120.00

US 10YR FUTURE TECHS
  • RES 4: 124–27+50-day EMA
  • RES 3: 124-18 High Mar 21
  • RES 2: 123-04 High Mar 31 and a key resistance
  • RES 1: 121-06+/22-27+ High Apr 7 / 20-day EMA
  • PRICE: 120-03+ @ 18:59 BST Apr 8
  • SUP 1: 119-29 Low Apr 8
  • SUP 2: 119-22 Low Dec 12 2018 (cont)
  • SUP 3: 119-04+ Low Dec 3 2018 (cont)
  • SUP 4: 118-02+ 0.618 proj of the Mar 7 - 28 - 31 price swing

Treasuries traded lower today and registered a fresh cycle low of 119-29. The break lower confirms a resumption of the primary downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies are also pointing south and scope is seen for a clear break of the 120-00 handle. Key short-term trend resistance has been defined at 123-04, the Mar 31 high.

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