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‌‌(M3)‌‌ Bear Cycle Extends

US 10YR FUTURE TECHS
  • RES 4: 113-16+ 50-day EMA
  • RES 3: 113-03 High Feb 15
  • RES 2: 112-22 20-day EMA
  • RES 1: 111-23+/112-03 High Feb 28 / 24
  • PRICE: 110-15+ @ 16:30 GMT Mar 2
  • SUP 1: 110-13 Low Mar 02
  • SUP 2: 110-06 3.00 proj of the Jan 19 - Jan 30 - Feb 2 price swing
  • SUP 3: 110-03+ Lower 2.0% Bollinger Band
  • SUP 4: 108-26+ Low Oct 21 (cont)

Treasury futures traded lower still Thursday, reinforcing and extending the current bear cycle. The move lower maintains the bearish price sequence of lower lows and lower highs and note that moving average studies are in a bear-mode position. This reflects market sentiment. The focus is on 110-06, a Fibonacci projection. On the upside, resistance is seen at 112-03, the Feb 24 high.

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

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