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US 10YR FUTURE TECHS

(U1)‌‌ Bullish Theme Intact

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Expiries for Jun15 NY cut 1000ET (Source DTCC)

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  • RES 4: 135.350 High Apr 8
  • RES 3: 135.180 High Apr 14
  • RES 2: 135.050/52 High Apr 22 / 50-day EMA
  • RES 1: 135.040 High May 6
  • PRICE: 134.920 @ 05:10 BST May 7
  • SUP 1: 134.690 Low May 4
  • SUP 2: 134.560 Low May 3 and the bear trigger
  • SUP 3: 134.466 76.4% retracement of the Feb 26 - Mar 25 rally
  • SUP 4: 134.140 Low Feb 26 and key support

Bobl futures have traded higher. Despite these gains, a downtrend remains intact and gains are considered corrective. Price has cleared the 20-day EMA. The area around the 50-day EMA at 135.052 marks a key near-term resistance area. A resumption of weakness would again open 134.466, a Fibonacci retracement. Clearance of the 50-day EMA however would alter the picture and highlight a stronger short-term bullish outlook.