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(M4) Gains Considered Corrective

US 10YR FUTURE TECHS
  • RES 4: 112-04 High Feb 7
  • RES 3: 111-24+ High Feb 13
  • RES 2: 111-07 50-day EMA
  • RES 1: 110-25+ 20-day EMA
  • PRICE: 110-26+ @ 16:41 GMT Mar 1
  • SUP 1: 109-25+ Low Feb 23
  • SUP 2: 109-14+ Low Nov 28
  • SUP 3: 108-19+ 61.8% of the Oct 19 - Dec 27 bull phase
  • SUP 4: 109-12+ 1.764 proj of Dec 27 - Jan 19 - Feb 1 price swing

The trend direction in Treasuries is unchanged and remains down, despite this week’s recovery. The recent move down has resulted in a print below the 110-00 handle. A clear break of this level would strengthen the bearish condition and signal scope for an extension towards 109-14+, the Nov 28 low. On the upside, initial firm resistance is seen at 111-08, the 50-day EMA. A clear breach of this average would signal a possible reversal.

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  • RES 4: 112-04 High Feb 7
  • RES 3: 111-24+ High Feb 13
  • RES 2: 111-07 50-day EMA
  • RES 1: 110-25+ 20-day EMA
  • PRICE: 110-26+ @ 16:41 GMT Mar 1
  • SUP 1: 109-25+ Low Feb 23
  • SUP 2: 109-14+ Low Nov 28
  • SUP 3: 108-19+ 61.8% of the Oct 19 - Dec 27 bull phase
  • SUP 4: 109-12+ 1.764 proj of Dec 27 - Jan 19 - Feb 1 price swing

The trend direction in Treasuries is unchanged and remains down, despite this week’s recovery. The recent move down has resulted in a print below the 110-00 handle. A clear break of this level would strengthen the bearish condition and signal scope for an extension towards 109-14+, the Nov 28 low. On the upside, initial firm resistance is seen at 111-08, the 50-day EMA. A clear breach of this average would signal a possible reversal.