(M4) Shows Above Key Resistance At 50-Day EMA

• RES 4: 111-24+ High Feb 13
• RES 3: 111-27 50% retracement of the Feb 1 - 23 bear leg
• RES 2: 111-15 High Mar 05
• RES 1: 111-11+ 38.2% retracement of the Feb 1 - 23 bear leg
• PRICE: 111-06+ @ 16:37 GMT Mar 5
• SUP 1: 110-05+/109-25+ Low Mar 1 / Low Feb 23 and 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

Treasures pierced resistance layered between 111-06 to 111-11+ in response to the weaker-than-expected ISM services release, extending the recovery posted off the late February lows. A confirmed close above the 50-day EMA of 111-06 would prove constructive and could signal a bullish reversal, opening 111-27 initially, the 50% retracement for the downleg off the Feb 1 high. This week’s price action has worked against the broader downward trend direction, and a failure to maintain price at or above current levels would return focus back to next support at the 109-25+ bear trigger.