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(M4) Impulsive Sell-Off

US 10YR FUTURE TECHS
  • RES 4: 111-10+ High Mar 13
  • RES 3: 110-21/31+ 50-day EMA / High Mar 27 and key resistance
  • RES 2: 110-06 High Apr 4
  • RES 1: 109-26+ Intraday high
  • PRICE: 108-21 @ 14:00 BST Apr 10
  • SUP 1: 108-17+ Intraday low
  • SUP 2: 108-06+ 2.236 proj of Dec 27 - Jan 19 - Feb 1 price swing
  • SUP 3: 108-00 Round number support
  • SUP 4: 107-07+ 76.4% of the Oct - Dec ‘23 bull leg (cont)

A sharp sell-off in Treasuries today reinforces the current bearish cycle and confirms a resumption of this year’s downtrend. The contract has traded through the 109-00 handle and breached 108-25, the 2.00 projection of Dec 27 - Jan 19 - Feb 1 price swing. This opens 108-06+ next, the 2.236 projection. Initial resistance has been defined at 109-26+, today’s intraday high. Key short-term resistance is at 110-06, the Apr 4 high.

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