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‌‌(M1)‌‌ Outlook Deteriorating

US 10YR FUTURE TECHS
  • RES 4: 136-00 High Feb 11 and key resistance
  • RES 3: 135-29 50-dma
  • RES 2: 134-20 High Feb 24
  • RES 1: 133-24 38.2% February Sell-Off
  • PRICE: 132-24 @ 12:03 GMT Feb 26
  • SUP 1: 132-08 Low Feb 26
  • SUP 2: 131-31 Low Feb 25
  • SUP 3: 131-30+ 3.0% Lower Bollinger Band
  • SUP 4: 131-27+ 38.2% Fib 2018 - 2020 Rally (cont)

Despite early signs of stabilisation, US 10y futures fell further Thursday, hitting new cycle lows for the Jun'21 contract of 131-31. This further dents the outlook and keeps the firm downtrend intact. Nearby supports all gave way Thursday, opening key Fib support for the continuation contract at 131-27+. Initial firm resistance remains at 134-20.

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