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(M3) Key Resistance Remain Exposed

US 10YR FUTURE TECHS
  • RES 4: 118-00 Round number resistance
  • RES 3: 117-29+ High Aug 26 2022 (cont)
  • RES 2: 117-01+ High Mar 24 and bull trigger
  • RES 1: 117-00 High May 4
  • PRICE: 116-03 @ 11:20 BST May 5
  • SUP 1: 115-31 Thursday’s low
  • SUP 2: 115-17+/07+ Low May 3 / 20-day EMA
  • SUP 3: 114-10 Low May 1
  • SUP 4: 113-30+ Low Apr 19 and key short-term support

Treasury futures traded higher again Thursday but have pulled back from yesterday’s 117.00 high. The outlook is bullish and attention is on key resistance at 117-01+, the Mar 24 high and bull trigger. A break of this hurdle would strengthen current trend conditions. Initial firm support is at 115-07+, the 20-day EMA. Key support is far-off at 113-30+, the Apr 19 low. Short-term pullbacks are considered corrective.

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