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(M3) Pullback Considered Corrective

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: 116-12/117-00 High May 5 / 4
  • PRICE: 115-18 @ 11:00 BST May 8
  • SUP 1: 115-13+ Low May 5
  • SUP 2: 115-09 20-day EMA
  • SUP 3: 114-25+ 50-day EMA
  • SUP 4: 114-10 Low May 1

Treasury futures traded lower Friday and are trading closer to recent lows. The trend outlook remains bullish and the recent pullback is considered corrective. 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 115-09, the 20-day EMA. Key support is far-off at 113-30+, the Apr 19 low.

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