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‌‌(U1)‌‌ Corrective Pullback

US 10YR FUTURE TECHS
  • RES 4: 133-27 1.50 proj of Apr 29 - May 7 - May 13 price swing
  • RES 3: 133-20+ 1.0% 10-dma envelope
  • RES 2: 133-11 1.236 proj of Apr 29 - May 7 - May 13 price swing
  • RES 1: 133-06+ High Jun 11
  • PRICE: 132-17 @ 15:36 BST Jun 15
  • SUP 1: 132-04 20-day EMA
  • SUP 2: 131-18 Low Jun 3 and 4 and key short-term support
  • SUP 3: 131-01/130-31+ Low May 19 / Low May 13
  • SUP 4: 130-23+/17+ Low Apr 29 / Low Apr 13

US 10y futures have pulled back from recent highs. Despite this move lower, the outlook remains bullish. This follows last week's breach of 132-20+, May 7 high. The break higher suggests scope for stronger gains and has confirmed a bullish price sequence of higher highs and higher lows. Attention is on 133-11, a Fibonacci projection. Key near-term support is at 131-18, the Jun 3, 4 low. Initial support lies at 132-04, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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