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Free Access(M4) Support Remains Intact For Now
- 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: 109-05+/109-31+ 50-day EMA / High May 16 and bull trigger
- PRICE: 108-18 @ 16:50 BST May 28
- 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 remain below the recent high and the contract ended last week closer to its recent lows. Support to watch is 108-15, the May 14 low - a level tested on Tuesday after strong consumer confidence data. 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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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.