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(M2)‌‌ Holding On To This Week’s Gains

US 10YR FUTURE TECHS
  • RES 4: 122-12+ High Apr 4
  • RES 3: 121-09 High Apr 14
  • RES 2: 121-00 50-day EMA
  • RES 1: 120-10/120-18+ High May 19 / High Apr 27
  • PRICE: 120-05 @ 20:12 BST May 20
  • SUP 1: 118-16/117-08+ Low May 18 / Low May 9 and a bear trigger
  • SUP 2: 116-28 0.764 proj of the Mar 7 - 28 - 31 price swing
  • SUP 3: 116-22+ 2.0% 10-dma envelope
  • SUP 4: 116.00 Round number support

Treasuries this week traded above 120-00+, May 12 high, and the contract is holding on to this week’s gains. The primary trend direction is down though and gains are still considered corrective. Any resumption of strength 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 117-08+, May 9 low.

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