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‌‌(M2)‌‌ Downtrend Intact

US 10YR FUTURE TECHS
  • RES 4: 125-01 50-day EMA
  • RES 3: 124-18 High Mar 21
  • RES 2: 123-04 High Mar 31 and a key resistance
  • RES 1: 122-10 High Apr 5
  • PRICE: 120-21 @ 16:33 BST Apr 7
  • SUP 1: 120-04+ Low Dec 12/13 2018 (cont)
  • SUP 2: 120.00 Low Dec 6 2018 (cont) and psychological support
  • SUP 3: 119-22 Low Dec 12 2018 (cont)
  • SUP 4: 119-04+ Low Dec 3 2018 (cont)

Treasuries traded to a fresh contract low Wednesday. The move lower this week confirms a resumption of the primary downtrend and marks an extension of the bearish price sequence of lower lows and lower highs. Moving average studies are also pointing south and attention is on the 120.00 handle next. Key short-term trend resistance has been defined at 123-04, the Mar 31 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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