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‌‌(M1)‌‌ 50-day EMA Holds Firm

US 10YR FUTURE TECHS
  • RES 4: 134-06+ High Feb 25
  • RES 3: 133-23 High Mar 2
  • RES 2: 133-00+ High Mar 11
  • RES 1: 132-20/24+ 50-day EMA / Apr 22 high and bull trigger
  • PRICE: 132-16 @ 16:06 BST May 5
  • SUP 1: 131-18+ Low Apr 29
  • SUP 2: 131-12 Low Apr 13 and key near-term support
  • SUP 3: 131-03+ Low Apr 6
  • SUP 4: 130-25+ Low Apr 5 and the bear trigger

US 10y futures technical conditions are unchanged. Price still trades below 132-24+, Apr 22 high and this is just above the 50-day EMA. Although price briefly traded above the EMA yesterday, the inability to clear it highlights a bearish threat. A pullback would signal scope for a test of 131-12, Apr 13 low where a break would expose key support and the trend low of 130-25+, Apr 5 low. For bulls, a 132-24+ break reinstates a bullish theme.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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