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Free Access(M2) Trend Needle Still Points South
- RES 4: 128-04 High Mar 8
- RES 3: 127-14+ High Mar 9
- RES 2: 126-00 20-day EMA
- RES 1: 125-14+ Low Feb 10 and a recent breakout level
- PRICE: 123-26+ @ 16:22 GMT Mar 21
- SUP 1: 123-24 Low Mar 21
- 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)
The Treasury bias remains lower, with prices showing below the Mar 15 low of 123-25+. Trend conditions are bearish - last Monday’s strong sell-off resulted in a break of 125-14+, the Feb 10 low and a bear trigger. This confirmed a resumption of the primary downtrend and confirmed an extension of the bearish price sequence of lower lows and lower highs. This opens 123-19+ next. Initial firm resistance is seen at 125-14+.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.