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(M4) Holding On To This Week’s Gains

US 10YR FUTURE TECHS
  • RES 4: 112-31 2.0% 10-dma envelope
  • RES 3: 112-10+ 61.8% retracement of the Feb 1 - 23 bear leg
  • RES 2: 112-04 High Feb 7
  • RES 1: 111-27 High Mar 7 / 50% of the Feb 1 - 23 bear leg
  • PRICE: 111-25 @ 11:03 GMT Mar 8
  • SUP 1: 110-21 Low Mar 4
  • SUP 2: 110-05+/109-25+ Low Mar 1 / Low Feb 23 and bear trigger
  • SUP 3: 109-14+ Low Nov 28
  • SUP 4: 109-12+ 1.764 proj of Dec 27 - Jan 19 - Feb 1 price swing

Treasuries are holding on to this week’s gains. The contract has topped resistance at the 50-day EMA and the clear break highlights a bullish reversal. This opens 111-27 initially (tested), 50% of the downleg off the Feb 1 high. A break would open 112-04, the Feb 7 high. For bears, reversal lower would return focus back to support at the 109-25+ bear trigger, the Feb 23 low. Initial support to watch lies at 110-21, the Mar 4 low.

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