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(M2)‌‌ Resumes Its Downtrend

US 10YR FUTURE TECHS
  • RES 4: 124–27 50-day EMA
  • RES 3: 123-04 High Mar 31 and a key resistance
  • RES 2: 122-12+ High Apr 4
  • RES 1: 121-09/20 High Apr 14 / 20-day EMA
  • PRICE: 119-13+ @ 11:16 BST Apr 19
  • SUP 1: 119-09 Intraday low
  • SUP 2: 119-04+ Low Dec 3 2018 (cont)
  • SUP 3: 118-02+ 0.618 proj of the Mar 7 - 28 - 31 price swing
  • SUP 4: 117-22+ Low Nov 8 2018 (cont)

Treasuries have today traded to a fresh cycle low of 119-09. The outlook remains bearish; the move lower has confirmed a resumption of the primary downtrend and an extension of the bearish price sequence of lower lows and lower highs. Moving average studies also point south and scope is for weakness towards 119-04+ next, the Dec 3 2018 low (cont). Initial firm resistance has been defined at 121-09, the Apr 14 high.

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