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(M3) Remains Vulnerable

  • 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: 114-28+ 50-day EMA
  • PRICE: 113-30+ @ 11:24 BST May 19
  • SUP 1: 113-27+ Low May 18
  • SUP 2: 113-26 Low Mar 22
  • SUP 3: 113-23 50.0% retracement of the Mar 2 - 24 rally
  • SUP 4: 113-08+ Low Mar 15

Treasury futures traded lower again Thursday. 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 pierced 113-30+ , the Apr 19 low and a key support. Sights are on 113.26, the Mar 22 low. On the upside, initial firm resistance is seen at 115-18+, the May 16 high. A break of this level is required to ease the current bearish threat.

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