US 10YR FUTURE TECHS: (M5) Corrective Pullback
Mar-06 11:51
- RES 4: 112-24 2.0% 10-dma envelope
- RES 3: 112-13 1.500 proj of the Jan 13 - Feb 7 - Feb 12 price swing
- RES 2: 112-01/02 High Mar 4 / 1.382 proj of Jan 13-Feb 7-12 swing
- RES 1: 111-15 High Mar 5
- PRICE: 110-22+ @ 11:39 GMT Mar 6
- SUP 1: 110-12+/110-00 Intraday low / High Feb 7
- SUP 2: 109-21 50-day EMA and a key near-term support
- SUP 3: 108-21 Low Feb 19
- SUP 4: 108-03+ Low Dec 12 and a bear trigger
The trend condition in Treasury futures remains bullish and the latest pullback appears corrective. The contract has pierced resistance at 111-22+, the Dec 3 ‘24 high. A clear break of this level would strengthen a bullish theme and open 112-02 and 112-13, Fibonacci projection points. Note that the daily trend condition is overbought, a pullback is allowing the overbought set-up to unwind. Firm support is at 110-00, the Feb 7 high.
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