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Smooth Digestion Of 5-Year Supply

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(M2)‌‌ Corrective Cycle

US 10YR FUTURE TECHS
Fixed Income Technical Analysismarkets-real-timeBulletMarketsFixed Income
  • RES 4: 122-12+ High Apr 4
  • RES 3: 121-11+ 50-day EMA
  • RES 2: 121-09 High Apr 14
  • RES 1: 120-01/120-18+ High Apr 28 / High Apr 27
  • PRICE: 119-13+ @ 11:17 BST May 13
  • 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: 116-11+ 2.0% 10-dma envelope
  • SUP 4: 116.00 Round number support

The primary downtrend in Treasuries remains intact, however a corrective (bullish) cycle has been established this week and suggests potential for short-term gains. The contract has traded above the 20-day EMA and this opens 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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  • RES 4: 122-12+ High Apr 4
  • RES 3: 121-11+ 50-day EMA
  • RES 2: 121-09 High Apr 14
  • RES 1: 120-01/120-18+ High Apr 28 / High Apr 27
  • PRICE: 119-13+ @ 11:17 BST May 13
  • 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: 116-11+ 2.0% 10-dma envelope
  • SUP 4: 116.00 Round number support

The primary downtrend in Treasuries remains intact, however a corrective (bullish) cycle has been established this week and suggests potential for short-term gains. The contract has traded above the 20-day EMA and this opens 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+.