Free Trial

‌‌(M2)‌‌ Intraday Rally Fails to Top Resistance

US 10YR FUTURE TECHS
  • RES 4: 126-04 High Mar 14
  • RES 3: 124-12+ 20-day EMA
  • RES 2: 123-25+ Low Mar 16 and a recent breakout level
  • RES 1: 122-06/123-12 High Mar 28 / Mar 23
  • PRICE: 121-27 @ 16:03 GMT Mar 29
  • SUP 1: 120-30+ Low Mar 28
  • SUP 2: 120.28 Low Dec 26 2018 (cont)
  • SUP 3: 120-04+ Low Dec 12/13 2018 (cont)
  • SUP 4: 120.00 Low Dec 6 2018 (cont) and psychological support

Treasuries remain in a downtrend, with intraday rallies failing to extend through resistance. The negative outlook confirms a resumption of the downtrend and maintains the bearish sequence of lower lows and lower highs. Moving average conditions remain in a bear mode, highlighting current sentiment. The break lower signals scope for weakness towards 120-28 next ahead of the psychological 120-00 handle. Resistance is seen at 123-12, the Mar 23 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.