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(M4) Bull Cycle Extends

US 10YR FUTURE TECHS
  • RES 4: 113-17 High Feb 2
  • RES 3: 112-31 2.0% 10-dma envelope
  • RES 2: 112-10+ 61.8% retracement of the Feb 1 - 23 bear leg
  • RES 1: 112-04+ High Mar 8
  • PRICE: 111-23+ @ 16:29 GMT Mar 8
  • SUP 1: 110-31+ 20-day EMA
  • SUP 2: 110-21 Low Mar 4
  • SUP 3: 110-05+/109-25+ Low Mar 1 / Low Feb 23 and bear trigger
  • SUP 4: 109-14+ Low Nov 28

Treasuries traded higher Friday after post-NFP volatility and are holding on to the week’s gains through the London close. The contract has this week topped resistance at the 50-day EMA highlighting a bullish reversal. 111-27, 50% of the downleg off the Feb 1 high, has been breached. This opens 112-10+, A Fibonacci retracement. For bears, a reversal lower would return focus back to support at the 109-25+ bear trigger, Feb 23 low. Initial firm support to watch lies at 110-21, the Mar 4 low.

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