Free Trial

‌‌(U1)‌‌ Failed Break Higher

US 10YR FUTURE TECHS
  • RES 4: 135-23 High Feb 24
  • RES 3: 135-22 2.618 proj of Jun 17 - 21 - 25 price swing
  • RES 2: 135-19+ 50% Aug'20 - May'21 Sell-Off
  • RES 1: 135-14 High Aug 04
  • PRICE: 134-06 @ 11:19 BST Aug 06
  • SUP 1: 133-26 Low Jul 19
  • SUP 2: 133-02/132.30 50-day EMA / Low Jul 14 and high Jun 21
  • SUP 3: 132-24+ Bull channel base drawn off the May 30 low
  • SUP 4: 132-06 Low Jun 30 and Jul 1

Treasury futures cracked the top end of the recent range earlier this week, extending the recent gains toward 135-14. Nonetheless, the intraday gains were short-lived, with prices reversing into the close to trade back below the 200-dma. Key short-term support remains at 133-26, Jul 19 low and the outlook is bullish above it. A break lower would signal scope for a deeper pullback. 135-14 is the bull trigger, a break opens 135-19+, a retracement level.

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.