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(M4) Resumes Its Downtrend

US 10YR FUTURE TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets
  • RES 4: 110-06 High Apr 4
  • RES 3: 109-26+ High Apr 10
  • RES 2: 109-22+ 50-day EMA
  • RES 1: 108-22+ High Apr 19 and the 20-day EMA
  • PRICE: 107-10+ @ 13:52 BST Apr 25
  • SUP 1: 107-07+ 76.4% of the Oct - Dec ‘23 bull leg (cont)
  • SUP 2: 106-27 2.764 proj of Dec 27 - Jan 19 - Feb 1 price swing
  • SUP 3: 106-18 Base of a bear channel drawn from the Feb 1 low
  • SUP 4: 106-08 3.00 proj of Dec 27 - Jan 19 - Feb 1 price swing

The trend outlook in Treasuries is unchanged and the direction is down. The contract has traded to a fresh cycle low today. MA studies are in a bear-mode set-up too, highlighting a clear downtrend. Note that the recent consolidation appears to have been a flag formation - a bearish continuation pattern. Sights are on 107.07+ (tested), a Fibonacci retracement. A break would open 106-27, a Fibonacci projection. Firm resistance is 108-22+, the 20-day EMA.

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  • RES 4: 110-06 High Apr 4
  • RES 3: 109-26+ High Apr 10
  • RES 2: 109-22+ 50-day EMA
  • RES 1: 108-22+ High Apr 19 and the 20-day EMA
  • PRICE: 107-10+ @ 13:52 BST Apr 25
  • SUP 1: 107-07+ 76.4% of the Oct - Dec ‘23 bull leg (cont)
  • SUP 2: 106-27 2.764 proj of Dec 27 - Jan 19 - Feb 1 price swing
  • SUP 3: 106-18 Base of a bear channel drawn from the Feb 1 low
  • SUP 4: 106-08 3.00 proj of Dec 27 - Jan 19 - Feb 1 price swing

The trend outlook in Treasuries is unchanged and the direction is down. The contract has traded to a fresh cycle low today. MA studies are in a bear-mode set-up too, highlighting a clear downtrend. Note that the recent consolidation appears to have been a flag formation - a bearish continuation pattern. Sights are on 107.07+ (tested), a Fibonacci retracement. A break would open 106-27, a Fibonacci projection. Firm resistance is 108-22+, the 20-day EMA.