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(M3) Bounces Through London Close

US 10YR FUTURE TECHS
  • RES 4: 117-01+ High Mar 24 and bull trigger
  • RES 3: 117-00 High May 4
  • RES 2: 115-18+/116-16 High May 16 / 11
  • RES 1: 114-05/114-28+ Intraday high / 50-day EMA
  • PRICE: 113-25 @ 16:53 BST May 19
  • SUP 1: 113-08+ Low Mar 15
  • SUP 2: 112-30 61.8% retracement of the Mar 2 - 24 rally
  • SUP 3: 112-21 Low Mar 13
  • SUP 4: 111-31 76.4% retracement of the Mar 2 - 24 rally

Treasury futures traded lower again Friday, touching pullback lows at 113-11 and nearing the Mar 15 low of 113-08+ - major support. This week’s price action has resulted in a break of both the 20- and 50-day EMAs. The move lower has also cracked support at 114-10, the May 1 low and cleared 113-30+ , the Apr 19 low and a key support. Prices stabilised somewhat into the close, but the intraday bounce has done little to counter the week’s pullback in prices. On the upside, firm resistance is seen at 115-18+, the May 16 high. Ahead of 115-18+ is resistance at the 50-day EMA, at 114-28+ - a key level.

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