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(M3) Bear Trend Extends

US 10YR FUTURE TECHS
  • RES 4: 115-18+/116-16 High May 16 / 11
  • RES 3: 114-05/114-22 High May 19 / 50-day EMA
  • RES 2: 113-30+ Low Apr 19 and a recent breakout level
  • RES 1: 113-25 High May 24
  • PRICE: 112-27+ @ 16:32 BST May 25
  • SUP 1: 112-22 Low May 25
  • SUP 2: 112-21 Low Mar 13
  • SUP 3: 111-31 76.4% retracement of the Mar 2 - 24 rally
  • SUP 4: 111-20+ Low Mar 10

Treasury futures traded softer Thursday, extending the recent break below 113-30+, the Apr 19 low and key support. This reinforces a bearish theme. The focus is on 112-30 next, 61.8% of the Mar 2 - 24 rally. On the upside, initial firm resistance is seen at 113-30+ ahead of the 50-day EMA, at 114-22. A break of the average is required to signal a potential reversal.

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