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‌‌(M2)‌‌ Trend Condition Remains Bearish

US 10YR FUTURE TECHS
  • RES 4: 128-04 High Mar 8
  • RES 3: 127-14+ High Mar 9
  • RES 2: 126-04+ 20-day EMA
  • RES 1: 125-14+ Low Feb 10 and a recent breakout level
  • PRICE: 124-18 @ 16:53 GMT Mar 18
  • SUP 1: 123-25+ Low Mar 16
  • SUP 2: 123-19+ 150.0% retracement of the Feb 10 - Mar 7 climb
  • SUP 3: 123-06 161.8% retracement of the Feb 10 - Mar 7 climb
  • SUP 4: 122-29+ 76.4% of the Oct ‘18 - Mar ‘20 upleg (cont)

Treasuries remain above Wednesday’s low. Current trend conditions remain bearish though. Monday’s strong sell-off resulted in a break of key support at 125-14+, the Feb 10 low and a bear trigger. This confirmed a resumption of the primary downtrend and marks an extension of the bearish price sequence of lower lows and lower highs. The move lower opens 123-19+ next. Initial firm resistance is seen at 126-04+, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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