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(M3) Key S/T Support Remains Intact

US 10YR FUTURE TECHS
  • RES 4: 117-29+ High Aug 26 2022 (cont)
  • RES 3: 117-01+ High Mar 24 and bull trigger
  • RES 2: 117-00 High May 4
  • RES 1: 116-16 High May 11
  • PRICE: 115-16 @ 11:36 BST May 16
  • SUP 1: 115-01+/114-30+ Low May 9 / 50-day EMA
  • SUP 2: 114-10 Low May 1
  • SUP 3: 113-30+ Low Apr 19 and a key support
  • SUP 4: 113-26 Low Mar 22

Treasury futures have recovered from Monday’s low. For now, support at 115-01+, the May 9 low and 114-30+, the 50-day EMA, remain intact. A clear break of this EMA would signal scope for a deeper retracement and open 114-10 initially, the May 1 low. For bulls, a resumption of gains would refocus attention on resistance at 117-01+, the Mar 24 high. This is the bull trigger and a break would highlight an important bullish development.

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