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US 10YR FUTURE TECHS

‌‌(Z1)‌‌ Trend Conditions Remain Bearish

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GBP1.147bln of medium-dated gilts with offer-to-cover of 2.24x

US
US: 10-YR YIELD TECHS: 2.902 Support Key Today
*RES 4: 3.050 - Low May 22 
*RES 3: 3.014 - Low May 24 now resistance 
*RES 2: 2.975 - 21-DMA 
*RES 1: 2.955 - Low May 24 now resistance
*PRICE: 2.938 @ 0330GMT
*SUP 1: 2.926 - High June 1 now support 
*SUP 2: 2.902 - Low June 4 
*SUP 3: 2.860 - Low June 1 
*SUP 4: 2.821 - Hourly support May 30
*COMMENTARY: The recovery from last week's low sees the yield pressuring the
21-DMA. Bulls now need a close above 3.014 to confirm a break of the 21-DMA and
add support to the initial case for a retest of 2018 highs. Correcting O/S
studies add support to the bullish case. Bears now need a close below 2.902 to
gain breathing room and below 2.860 to reconfirm focus on 2.717-759 where Mar &
May lows are noted.