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(M4) Key Support Remains Exposed

US 10YR FUTURE TECHS
  • RES 4: 113-14 2.0% 10-dma envelope
  • RES 3: 112-29+ 76.4% retracement of the Feb 1 - 23 bear leg
  • RES 2: 112-10+ 61.8% retracement of the Feb 1 - 23 bear leg
  • RES 1: 111-05/112-04+ 50-day EMA / High Mar 8 and bull trigger
  • PRICE: 109-27 @ 16:55 GMT Mar 18
  • SUP 1: 109-26 Low Mar 18
  • SUP 2: 109-25+ Low Feb 23 and the 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 maintain a softer tone following last week’s sell-off. The move lower threatens the recent bull cycle and this has exposed key support at 109-25+, the Feb 23 low and a bear trigger. A break of this level would resume the downtrend that started late December last year and open 109-14+ initially, the Nov 28 ‘23 low. Initial firm resistance is at 111-05, the 50-day EMA.

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