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(M3)‌‌ Fresh Bear Cycle Low

US 10YR FUTURE TECHS
  • RES 4: 113-12+ 50-day EMA
  • RES 3: 112-28 High Feb 16
  • RES 2: 112-15+ 20-day EMA
  • RES 1: 111-23+/112-03 High Feb 28 / 24
  • PRICE: 110-28+ @ 11:03 GMT Mar 3
  • SUP 1: 110-12+ Low Mar 02
  • SUP 2: 110-06 3.00 proj of the Jan 19 - Jan 30 - Feb 2 price swing
  • SUP 3: 109-31+ Lower 2.0% Bollinger Band
  • SUP 4: 109-12 3.382 proj of the Jan 19 - Jan 30 - Feb 2 price swing

Treasury futures traded lower again 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 current market sentiment. Sights are on 110-06, a Fibonacci projection. On the upside, resistance is seen at 112-03, the Feb 24 high. Short-term gains would likely be a correction.

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