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‌‌(M2)‌‌ Resistance Remains Intact

US 10YR FUTURE TECHS
  • RES 4: 126-04 High Mar 14
  • RES 3: 124-06+ 20-day EMA
  • RES 2: 123-25+ Low Mar 16 and a recent breakout level
  • RES 1: 122-26+/123-12 Intraday high / Mar 23
  • PRICE: 122-18+ @ 16:12 GMT Mar 30
  • 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

The trend direction in Treasuries is bearish and short-term gains are considered corrective. A bearish price sequence of lower lows and lower highs continues to dominate and moving average conditions are in a bear mode. The recent break lower signals scope for weakness towards 120-28 next ahead of the psychological 120-00 handle. Resistance is seen at 123-12, the Mar 23 high.

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