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Free Access(M4) Bullish Outlook
- 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: 109-31+ High May 16
- PRICE: 109-17+ @ 16:37 BST May 16
- SUP 1: 109-07/108-15 50-day EMA / 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 faded off highs Thursday, but are still holding on to a bulk of the week’s strong gains. The contract has moved through resistance at 108-25, the top of a bear channel drawn from the Feb 1 high. Note that, resistance at 109-09+, the May 3 high, has also been cleared, This reinforces the bullish importance of the channel break and signals scope for an extension higher near-term. Sights are on 110-00 next. Initial key support is at 108-15, Tuesday’s low.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.