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Short-Term Reversal Extends

US 10YR FUTURE TECHS
  • 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+ Intraday high
  • PRICE: 114-21+ @ 18:34 BST Mar 28
  • SUP 1: 114-17 Low Mar 28
  • SUP 2: 114-03/113-26 20-day EMA / Low Mar 22
  • SUP 3: 113-23+ 50-day EMA
  • SUP 4: 113-08+ Low Mar 15

Treasury futures continue to pull back from last Friday’s high of 117-01+. Early signals suggest that Friday’s candle pattern - a shooting star formation - represents a possible short-term reversal signal. If correct, this suggests scope for further weakness towards the 20-day EMA, at 114-03. The average represents a key support, ahead of 113-26, the Mar 22 low. Key resistance and the bull trigger has been defined at 117-01+.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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