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‌‌(U1)‌‌ Struggling At Resistance

US 10YR FUTURE TECHS
  • RES 4: 133-00 Round number resistance
  • RES 3: 132-28+ 1.00 proj of Apr 29 - May 7 - May 13 price swing
  • RES 2: 132-20+ High May 7 and key short-term resistance
  • RES 1: 132-07+ High Jun 4
  • PRICE: 132-04 @ 16:41 BST Jun 7
  • SUP 1: 131-18 Low Jun 3 and 4
  • SUP 2: 131-01/130-31+ Low May 19 / Low May 13
  • SUP 3: 130-23+/17+ Low Apr 29 and key support / Low Apr 13
  • SUP 4: 129-31 Low Apr 6

US 10y futures have probed but still not cracked near-term resistance at 132-05+. This keeps the technical condition unchanged and attention is on support at 130-31+, May 13 low and a key S/T chart point. A break would expose 130-23+, Apr 29 low. The broader trend is down and sub 130-23+ levels would signal a resumption of the primary downtrend, opening 129-25, Mar 30 low. Key resistance to watch is 132-20+, May 7 high.

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

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