Free Trial

(U2)‌‌ Corrective Cycle Still In Play

US 10YR FUTURE TECHS
  • RES 4: 120-00 Round number resistance
  • RES 3: 119-16+ High Jun 1
  • RES 2: 119-03+ 76.4% retracement of the May 26 - Jun 14 bear leg
  • RES 1: 118-08/24 High Jun 24 / 50-day EMA
  • PRICE: 117-13 @ 11:06 BST Jun 24
  • SUP 1: 116-25+ Low Jun 23
  • SUP 2: 115-20/114-07+ Low Jun 17 / Low Jun 14 and bear trigger
  • SUP 3: 114-00 Round number support
  • SUP 4: 113-19 Low Jun 19, 2009 (cont)

Treasuries maintain a firmer short-term tone. Thursday’s gains resulted in a break of the 20-day EMA, suggesting potential for a continuation higher with the focus on 118-24 next, the 50-day EMA. The primary trend direction remains down however and this week’s climb is still likely a correction. Initial firm support to watch is 115-20, the Jun 17 low. A break would signal the end of the corrective cycle and open the bear trigger at 114-07+.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.