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‌‌(M1)‌‌ Bearish Focus

US 10YR FUTURE TECHS
  • RES 4: 133-23 High Mar 2
  • RES 3: 132-31/133-00+ 50-day EMA / High Mar 11
  • RES 2: 132-09+ High Mar 25
  • RES 1: 132-03 High Apr 8
  • PRICE: 131-19 @ 16:31 BST Apr 12
  • SUP 1: 131-15 Low Apr 9
  • SUP 2: 130-25+Low Apr 5 and the bear trigger
  • SUP 3: 130-14/07 Lower 3.0% Bollinger Band / Low Feb 2, 2020
  • SUP 4: 129-19 Low Jan 24, 2020 (cont)

US 10y futures are holding onto recent gains and trading ahead of last week's 132-03 high. The outlook remains bearish and recent gains are still considered corrective. The contract resumed its downleg Mar 30, breaking 131-00, Mar 18 low. This opens 130-07 and the psychological 130-00 handle. The move lower maintains the bearish sequence of lower lows and lower high, reinforcing current sentiment. Resistance is at 132-09+.

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

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