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(M3)‌‌ Trend Needle Points South

US 10YR FUTURE TECHS
  • RES 4: 113-19+ 50-day EMA
  • RES 3: 113-03 High Feb 15
  • RES 2: 112-27+ 20-day EMA
  • RES 1: 112-03 High Feb 24
  • PRICE: 111-01 @ 16:10 GMT Mar 1
  • SUP 1: 110-30 Low Mar 1
  • 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)

Downside pressure on Treasury futures accelerated Wednesday, keeping prices within the clear downtrend posted across February. Recent weakness maintains the current bearish sequence of lower lows and lower highs. Potential is seen for a move towards the 111.00 handle next, a Fibonacci projection. Moving average studies are in a bear mode position, highlighting current market sentiment. Initial resistance is seen at 112-03, the Feb 24 high.

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