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Remains Vulnerable

  • RES 4: 117-29+ High Aug 26 2022 (cont)
  • RES 3: 117-14+ High Aug 29 / 30 2022 (cont)
  • RES 2: 116-06+/117-01+ High Mar 27 / High Mar 24 and bull trigger
  • RES 1: 115-07+ High Mar 28
  • PRICE: 114-14 @ 16:25 BST Mar 30
  • SUP 1: 114-06 20-day EMA
  • SUP 2: 113-26 Low Mar 22
  • SUP 3: 113-24 50-day EMA
  • SUP 4: 113-08+ Low Mar 15

Treasury futures are trading closer to this week’s lows and just ahead of support at the 20-day EMA, which intersects at 114-06. The bearish candle pattern on Mar 24 - a shooting star - remains in play and suggests scope for a continuation lower. Note Monday’s pattern is a bearish engulfing candle - reinforcing a short-term bearish threat. A break of the 20-day EMA would open 113-26, the Mar 22 low. Initial resistance is at 115-07+, the Mar 28 high.

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