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(M4) Gains Considered Corrective

US 10YR FUTURE TECHS
  • RES 4: 112-04+ High Mar 8 and bull trigger
  • RES 3: 111-24 High Mar 12
  • RES 2: 111-02 50-day EMA
  • RES 1: 110-24 20-day EMA
  • PRICE: 110-08+ @ 10:11 GMT Mar 20
  • SUP 1: 109-24+ Low Mar 18
  • SUP 2: 109-14+ Low Nov 28
  • SUP 3: 109-12+ 1.764 proj of Dec 27 - Jan 19 - Feb 1 price swing
  • SUP 4: 108-25+ 2.00 proj of Dec 27 - Jan 19 - Feb 1 price swing

Treasuries maintain a softer tone following last week’s sell-off and the latest recovery is considered corrective. The contract traded lower Monday, reinforcing a bearish theme and this resulted in a print below 109-25+, the Feb 23 low and bear trigger. A clear break of this support would confirm a resumption of the downtrend that started late December and open 109-14+, the Nov 28 low. Initial firm resistance to watch is 111-02, the 50-day EMA.

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