Free Trial

MNI: US 10-YEAR YIELD TECHS: Resistance In 2.90......>

MNI, NEWS
MNI: US 10-YEAR YIELD TECHS: Resistance In 2.90 Area
*RES 4: 3.0540 - 18-Year Monthly chart Trendline
*RES 3: 3.0140 - High Aug 1
*RES 2: 2.9237 - Aug 6 Low, Support-Turned-Resistance
*RES 1: 2.8987 - Beginning of 2.90 resistance area  
*PRICE: 2.8732 @ 1737GMT
*SUP 2: 2.8289 - Low Jul 19
*SUP 3: 2.8053 - Low Jul 6
*SUP 4: 2.7594 - Low May 30
Trendline support at 2.8495 proved ineffective amid the global bond rally,
resulted in multi-week lows of 2.8461 printed in early NY hours. This may add to
bear's conviction following the break through pivotal support at 2.9264/2.9221
last week. July lows of 2.8053 remain the next target (although some support may
be found at the 2.8289/2.8234) before May's range can be considered. On the
upside, there remains significant resistance in the 2.90 area, beginning at
2.8987, and including the 50 and 100-dma which now converge at 2.9077/84.

To read the full story

Close

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.