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Fresh Cycle Lows On Flow In TYM2, Before Dealing Back From Worst Levels

US TSYS

A ~2K sale of TYM2 covering 117-16+ down to 117-15+ allows the contract to print a new cycle low at 117-14+ before some light buying flows are seen, allowing the contract to trade back to 117-18+ last, -0-07+ on the day. Technical support isn’t really seen until the 0.764 projection of the Mar 7-28-31 price swing (116-28), with the contract’s primary downtrend extending and moving average studies in bear mode. Asia-Pac participants are trying to find the balance when it comes to reaction to Friday’s NY bear steepening and some of the more risk-negative weekend news flow.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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