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(M2)‌‌ Trend Needle Points South

US 10YR FUTURE TECHS
  • RES 4: 126-04 High Mar 14
  • RES 3: 125-23+ 20-day EMA
  • RES 2: 125-14+ Low Feb 10 and a recent breakout level
  • RES 1: 124-25+ High Mar 18
  • PRICE: 123-31+ @ 11:15 GMT Mar 22
  • SUP 1: 122-20+ 176.4% retracement of the Feb 10 - Mar 7 climb
  • SUP 2: 122-12 Low Mar 12 2019 (cont)
  • SUP 3: 122-00 Round number support
  • SUP 4: 121-15+ Low Mar 4 2019 (cont)

The Treasury bias remains lower following yesterday’s strong sell-off that confirmed a resumption of the primary downtrend. The move lower also maintains the bearish price sequence of lower lows and low highs, reinforcing the current bear cycle. The focus is on 122-20, the 176.4% retracement of the Feb 10 - Mar 7 climb and 122-00 further out. On the upside, firm resistance is seen at 125-23+, the 20-day EMA.

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