May 17, 2022 10:41 GMT
(M2) Consolidating
US 10YR FUTURE TECHS
- RES 4: 122-12+ High Apr 4
- RES 3: 121-09 High Apr 14
- RES 2: 121-06+ 50-day EMA
- RES 1: 120-01/120-18+ High Apr 28 / High Apr 27
- PRICE: 119-10 @ 11:29 BST May 17
- SUP 1: 118-03+/117-08+ Low May 11 / Low May 9 and a bear trigger
- SUP 2: 116-28 0.764 proj of the Mar 7 - 28 - 31 price swing
- SUP 3: 116-15+ 2.0% 10-dma envelope
- SUP 4: 116.00 Round number support
Treasuries are consolidating. The primary downtrend remains intact, however, a corrective cycle established last week remains in play, suggesting potential for short-term gains. A climb would open 120-18+, the Apr 27 high. This level represents an important short-term resistance where a break would signal scope for a stronger retracement. Key support and the bear trigger is unchanged at 117-08+.
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