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(M3) Bear Trend Extension

US 10YR FUTURE TECHS
  • RES 4: 115-18+ High May 16
  • RES 3: 114-05/114-19+ 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: 112-10+ @ 16:56 BST May 26
  • SUP 1: 112-05+ Intraday low
  • SUP 2: 111-31 76.4% retracement of the Mar 2 - 24 rally
  • SUP 3: 111-20+ Low Mar 10
  • SUP 4: 111-00 Round number support

Treasury futures have registered another short-term trend low Friday as the pullback from the May 4 high extends. The recent break of 113-30+, the Apr 19 low and a key support, reinforced a bearish theme. The focus is on 111-31 next, 76.4% of the Mar 2 - 24 rally. On the upside, initial firm resistance is seen at 113-30+ ahead of the 50-day EMA, at 114-19+. A break of the average is required to signal a potential reversal.

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