May 24, 2024 16:06 GMT
(M4) Bounces Ahead of Support
US 10YR FUTURE TECHS
- RES 4: 110-16 50.0% retracement of the Feb 1 - Apr 25 bear leg
- RES 3: 110-06 High Apr 4
- RES 2: 110-00 Round number resistance
- RES 1: 109-06/109-31+ 50-day EMA / High May 16 and bull trigger
- PRICE: 108-22+ @ 17:00 BST May 24
- SUP 1: 108-15 Low May 14 and key support
- SUP 2: 108-06 Low May 3
- SUP 3: 107-25 Low May 2
- SUP 4: 107-04 Low Apr 25 and the bear trigger
Treasuries sold off again mid-session, but bounced ahead of support. This kept prices flat into the close and the extended weekend. Support to watch remains 108-15, the May 14 low. Clearance of this level would undermine the recent bullish theme and instead signal scope for a deeper retracement. This would open 108-06, the May 3 low. On the upside, 109-31+ is the bull trigger where a break confirms a resumption of the bull cycle.
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