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Trend Needle Still Points South

US 10YR FUTURE TECHS
  • RES 4: 113-01 50-day EMA
  • RES 3: 112-18 High Feb 17
  • RES 2: 111-31+/112-03 20-day EMA / High Feb 24
  • RES 1: 111-17 High Mar 6
  • PRICE: 111-03 @ 16:42 GMT Mar 9
  • SUP 1: 110-12+ Low Mar 02 and the bear trigger
  • SUP 2: 110-06 3.00 proj of the Jan 19 - Jan 30 - Feb 2 price swing
  • SUP 3: 110-00+ Lower 2.0% Bollinger Band
  • SUP 4: 109-22 3.236 proj of the Jan 19 - Jan 30 - Feb 2 price swing

Treasury futures continue to trade above 110-12+, the Mar 2 low. Recent gains appear to be a correction and note that a move higher is allowing an oversold trend condition to unwind. Key short-term resistance is seen at 111-31+, the 20-day EMA. The bear trigger is 110-12+, the Mar 2 low. A break would confirm a resumption of the downtrend and open 110-06, a Fibonacci projection.

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