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(M3) Starting The Week On A Softer Note

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: 115-08 @ 14:41 BST May 8
  • SUP 1: 114-25+ 50-day EMA
  • SUP 2: 114-10 Low May 1
  • SUP 3: 113-30+ Low Apr 19 and a ley support
  • SUP 4: 113-26 Low Mar 22

Treasury futures have started the week on a bearish note and are trading lower today, extending the pullback from last week’s high of 117-00, on May 4. Price has breached the 20-day EMA and attention shifts to support at the 50-day EMA which intersects at 114-25+. A clear break of this average would signal scope for a deeper retracement. For bulls, a resumption of gains would open key resistance at 117-01+, the Mar 24 high. This is the bull trigger.

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