Free Trial

10-YEAR YIELD TECHS: Resistance In 2.90 Area.....>

US
US: 10-YEAR YIELD TECHS: Resistance In 2.90 Area
*RES 4: 3.0540 - 18-Year Monthly chart Trendline
*RES 3: 3.0140 - High Aug 1
*RES 2: 2.9237 - Aug 6 Low, Support-Turned-Resistance
*RES 1: 2.8987 - Beginning of 2.90 resistance area
*PRICE: 2.8660 @ 10:38 GMT
*SUP 1: 2.8495 - Trendline support
*SUP 2: 2.8289 - Low Jul 19
*SUP 3: 2.8053 - Low Jul 6
*SUP 4: 2.7594 - Low May 30
10-Year yields are consolidating after last week`s bearish break through pivotal
support at 2.9264/2.9221, but focus remains on major trendline support at 2.8495
which has been tested intraday. A further move below here confirms the bearish
chart formation and leaves the way open to target the July low at 2.8053. On the
upside, there is significant resistance in the 2.90 area, beginning at 2.8987,
and including the 50 and 100-dma which now converge at 2.9077/84.

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.