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(M2)‌‌ Consolidating

US 10YR FUTURE TECHS
  • RES 4: 122-12+ High Apr 4
  • RES 3: 121-09 High Apr 14
  • RES 2: 120-29 50-day EMA
  • RES 1: 120-10/120-18+ High May 19 / High Apr 27
  • PRICE: 119-31 @ 11:07 BST May 24
  • SUP 1: 118-16/117-08+ Low May 18 / Low May 9 and a bear trigger
  • SUP 2: 117-02 2.0% 10-dma envelope
  • SUP 3: 116-28 0.764 proj of the Mar 7 - 28 - 31 price swing
  • SUP 4: 116.00 Round number support

Treasuries are unchanged and continue to consolidate. The contract traded above 120-00+ last week, May 12 high. Short-term gains though are still considered corrective. Any resumption of strength would open 120-18+, the Apr 27 high. This level represents an important resistance where a break would signal scope for a stronger retracement. Key support and the bear trigger is 117-08+, May 9 low.

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