Free Trial

(H3)‌‌ Clears Key Short-term Support

US 10YR FUTURE TECHS
  • RES 4: 116-00 High Feb 2
  • RES 3: 115-22+ High Feb 3
  • RES 2: 114-21+ 20-day EMA
  • RES 1: 114-11+ Intraday high
  • PRICE: 113-19+ @ 16:29 GMT Feb 6
  • SUP 1: 113-17+ Feb 6 Low & 61.8% retracement of the Dec 30 - Jan 19 bull run
  • SUP 2: 112-29 76.4% retracement of the Dec 30 - Jan 19 bull run
  • SUP 3: 112-18+ Low Jan 5
  • SUP 4: 112-09 Trendline support drawn from the Oct 21 low

A sharp pullback in Treasury futures Friday and a bearish start to this week’s activity, highlights a downward cycle and signals scope for continuation lower. The contract has breached 114-05+, the Jan 30 low and a short-term bear trigger. Note that price has also breached the 50-day EMA. This opens 113-17+ next - a level tested on Monday - a Fibonacci retracement. On the upside, initial firm resistance is seen at 114-21+, the 20-day EMA.

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.