May 15, 2024 15:54 GMT
(M4) Clears Channel Resistance
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: 109-26+ High May 15
- PRICE: 109-20 @ 16:48 BST May 15
- SUP 1: 108-15 Low May 14
- SUP 2: 108-06 Low May 3
- SUP 3: 107-25 Low May 2
- SUP 4: 1074-04 Low Apr 25 and a key support
Treasuries recovered well off Tuesday’s low and traded higher again Wednesday. Price has moved through resistance at 108-27, 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 support is at 108-15, Tuesday’s low.
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