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(M2)‌‌ Watching Resistance

US 10YR FUTURE TECHS
  • RES 4: 122-12+ High Apr 4
  • RES 3: 121-09 High Apr 14
  • RES 2: 121-01+ 50-day EMA
  • RES 1: 120-00+/120-18+ High May 12 / High Apr 27
  • PRICE: 119-29+ @ 11:13 BST May 19
  • 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: 116-17+ 2.0% 10-dma envelope
  • SUP 4: 116.00 Round number support

Treasuries are firmer today, but remain below the recent high of 120-00+ on May 12. The trend direction is down and recent short-term gains are still considered corrective. Any resumption of gains however 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 remains 117-08+, the May 9 low.

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