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JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

AUSSIE 3-YEAR TECHS

(M1) Directional Triggers Intact

USDCAD TECHS

Approaching Major Support

US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

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  • RES 4: $70.00 - Psychological round number
  • RES 3: $67.95 - Hugh Oct 29, 2018
  • RES 2: $67.29 - High Mar 8 and the bull trigger
  • RES 1: $66.58 - Intraday high
  • PRICE: $66.24 @ 07:02 BST May 5
  • SUP 1: $64.29 - Low May 4
  • SUP 2: $62.91 - Low May 3 and key near-term support
  • SUP 3: $60.61 - Low Apr 22 and key short-term support
  • SUP 4: $58.77 - Low Apr 12

WTI futures maintain a bullish tone and have resumed their climb this week. The contract has probed resistance at $66.15, Mar 15 high where a clear break would pave the way for a test of the key hurdle for bulls at $67.29, Mar 8 high. Clearance of this resistance would confirm a resumption of the broader uptrend. On the downside, firm near-term support has been defined at $62.91, May 3 low.