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Watching Support At The 20-Day EMA

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+ High Mar 28
  • PRICE: 114-23+ @ 16:57 BST Mar 31
  • SUP 1: 114-07 20-day EMA
  • SUP 2: 113-26 Low Mar 22
  • SUP 3: 113-26 50-day EMA
  • SUP 4: 113-08+ Low Mar 15

Treasury futures are consolidating and price is finishing the week closer to the lows. Attention is on support at the 20-day EMA, which intersects at 114-07. 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 bearish threat. A break of the 20-day EMA would open 113-26, Mar 22 low. Initial resistance is at 115-07+, Mar 28 high.

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