Free Trial

(U0) Bulls Make Little Progress Monday

US 10YR FUTURE TECHS
  • RES 4: 141-00 1.0% 10-dma envelope
  • RES 3: 140-24 High Mar 9 and key resistance (cont)
  • RES 2: 140-20 1.00 projection of Jun 5 - 11 rally from Jun 16 low
  • RES 1: 140-13 Aug 4 / 5 / 6 High
  • PRICE: 140-01 @ 11:06 BST Aug 10
  • SUP 1: 139-08 Low Jul 28
  • SUP 2: 139-00+ Low Jul 13
  • SUP 3: 138-23+ Low Jul 2 and key near-term support
  • SUP 4: 138-07 Low Jun 16 and reversal trigger

Markets faded into the Friday close and the open Monday hasn't fared much better. 10y futures hit a new multi-week low at 139-27 ahead of NY hours, although prices have recovered a touch since then. Last week, markets had trouble topping congestion resistance at 140-13 on three occasions, and this marks a key level for bulls going forward. Key support has been defined at 139-08, Jul 28 low a break of which would dent the current bullish tone.

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.