Free Trial

(U0) Bearish Friday Close

US 5YR FUTURE TECHS
  • RES 4: 127-077 1.0% 10-dma envelope
  • RES 3: 126-26 1.382 projection of the Jun 5 - 15 - 16 swing
  • RES 2: 126-21 1.236 projection of the Jun 5 - 15 - 16 swing
  • RES 1: 126-077 High Aug 5
  • PRICE: 126-02+ @ 11:03 BST, Aug 10
  • SUP 1: 125-22+ Low Jul 28 and key support
  • SUP 2: 125-196 Low Jul 13
  • SUP 3: 125-16+ Low Jul 2 and 50-day EMA
  • SUP 4: 125-096 Low Jun 16

After striking a new cycle high mid-last week, 5yr futures closed Friday at the weekly low, but price action is more reminiscent of bullish exhaustion at present rather than a bearish reversal. The break of resistance last week confirmed the resumption of the underlying uptrend, paving the way for a climb towards 126-21, a key swing projection. MA and momentum studies remain bullish, reinforcing current conditions. 125-22+ is support, Jul 28 low.

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.