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(M3) Bear Flag

US 10YR FUTURE TECHS
  • RES 4: 117-01+ High Mar 24 and bull trigger
  • RES 3: 116-30 High Apr 5 / 6
  • RES 2: 116-08 High Apr 12
  • RES 1: 115-00/23 High Apr 21 / 14
  • PRICE: 114-16 @ 16:49 BST Apr 21
  • SUP 1: 113-30+ Low Apr 19
  • SUP 2: 113-23 50.0% retracement of the Mar 3 - 24 bull run
  • SUP 3: 113-08+ Low Mar 15
  • SUP 4: 112-30 61.8% retracement of the Mar 3 - 24 bull run

Treasury futures remain vulnerable and recent activity appears to be a bear flag - a bearish continuation pattern that reinforces the current downtrend. The contract has recently traded through the 20- and 50-day EMAs and pierced 114-00. The move lower opens 113-23, a Fibonacci retracement. On the upside, initial firm resistance is at 115-00, Friday’s high. A break and close above this level would ease the current bearish threat.

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