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(M9) Falters Again Ahead of....>

US 10YR FUTURE TECHS: (M9) Falters Again Ahead of YTD Highs
*RES 3: 125-26+ 50% 134-07+-117-13+
*RES 2: 124-31 Mar 27 high
*RES 1: 124-27 May 15-16 highs
*PRICE: 124-14+ @ 16:14 BST, May 17
*SUP 1: 122-30/23+ May 3 low/100-dma
*SUP 2: 122-02 38.2% 117-13+-124-31
*SUP 3: 121-02/00+ Jan 18 low/200-dma
As was the case Thursday, US Tsy futures rallied before stalling ahead of the
March 26 high and pulling lower to finish the session,. As such, 124-27 remains
the near-term target for bulls, but Trump's climb down in trade tensions against
Canada, Mexico and the EU this week will make that a tricky task. A move north
of the week's highs would open the 76.4% retracement of the Sep 2017-Oct 2018
decline at 125-14. On the downside bears look for a break of the Thursday low at
124-10 to allow a run at the May 10 low at 123-26+, below which would suggest a
downside reversal.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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