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(M3) Testing Support At The 50-Day EMA

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: 115-18+/116-16 Intraday high / High May 11
  • PRICE: 114-30+ @ 15:55 BST May 16
  • SUP 1: 114-29+ Intraday low
  • 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 are trading lower again today and the contract has breached support at 115-01+, the May 9 low, and is testing the 50-day EMA, at 114-30+. A clear break of this EMA would signal scope for a deeper retracement and open 114-10 initially, May 1 low. For bulls, a reversal higher would refocus attention on resistance at 117-01+, the Mar 24 high. This is the bull trigger where a break would highlight an important bullish development.

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