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(M4) Remains Below Resistance

US 10YR FUTURE TECHS
  • RES 4: 112-04+ High Mar 8 and bull trigger
  • RES 3: 111-24 High Mar 12
  • RES 2: 111-00+ 50-day EMA
  • RES 1: 110-26+ High Mar 21
  • PRICE: 110-19 @ 10:00 GMT Mar 22
  • SUP 1: 109-24+ Low Mar 18 and the bear trigger
  • 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

Despite this week’s gains, Treasuries maintain a softer tone and the latest move higher appears to be a correction. Moving average studies are in a bear-mode position and this highlights a downtrend. Key short-term resistance to watch is 111-00+, the 50-day EMA. A clear break of this average is required to suggest scope for a stronger recovery. On the downside, the bear trigger is unchanged at 109-24+.

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