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(M4) Resistance Remains Intact

US 10YR FUTURE TECHS
  • RES 4: 112-04+ High Mar 8 and bull trigger
  • RES 3: 111-24 High Mar 12
  • RES 2: 110-31+ 50-day EMA
  • RES 1: 110-30+ High Mar 21 & 22
  • PRICE: 110-19+ @ 10:07 GMT Mar 26
  • SUP 1: 110-08+/109-24+ Low Mar 21 / 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

Treasuries maintain a softer tone and the latest move higher appears to be a correction. Key short-term resistance to watch is 110-31+, the 50-day EMA. A clear break of this average is required to suggest scope for a stronger recovery. Moving average studies remain in a bear-mode position and this continues to highlight a downtrend. On the downside, the bear trigger is unchanged at 109-24+.

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