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(U2)‌‌ Extends The Week’s Bear Leg

US 10YR FUTURE TECHS
  • RES 4: 121-27+ High Apr 5
  • RES 3: 120-27+ High Apr 7
  • RES 2: 120-09+/19+ 50-day EMA / High May 26 and bull trigger
  • RES 1: 119-16+ High Jun 1
  • PRICE: 118-21 @ 15:47 BST Jun 3
  • SUP 1: 118-01+ Low May 18 and a key short-term support
  • SUP 2: 117-18 Low May 11
  • SUP 3: 116-21 Low May 9 and a bear trigger
  • SUP 4: 116-00 Round number support

Treasuries traded lower Friday, extending the week’s bear leg and the move away from the 50-day EMA. The EMA intersects at 120-09+ and represents a key resistance area. A clear break would pave the way for a stronger recovery towards 122-00. Recent gains are still considered corrective though and the primary trend direction is down. Key support and the bear trigger is 116-21, May 9 low. Initial firm support to watch is 118-01+, May 18 low.

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