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(M9) False Break Lower *RES 3: 124-02+......>

OPTIONS
OPTIONS: (M9) False Break Lower
*RES 3: 124-02+ Dec 29 2017 high
*RES 2: 123-08 Jan 3 high
*RES 1: 123-03+ Mar 15 high
*PRICE: 122-25 @ 15:22 GMT, Mar 19
*SUP 1: 121-02/01 Jan 18 low/38.2% 117-13+-123-08
*SUP 2: 120-28+ 100-dma
*SUP 3: 120-07/04+ 200-dma/Dec 12-13 lows
Treasuries followed European bonds lower ahead of the CBOT open Tuesday, but
bears were left wanting as no major support lines were tested and prices quickly
recovered. This does little to change the medium-term outlook which remains
bullish. Bulls retain focus on the Mar15 high at 123-03+ ahead of the Jan3 high
at 123-08. The symmetrical triangle top remains in play, with market yet to
close above, sitting at 122-31. A downside break of the base, brings the 50-dma
back into view at 121-31+. Below here shifts the focus to the Mar 4 low at
121-10 ahead of the Jan 18 low and 38.2% retracement of the Oct-Jan rally.

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