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(U2)‌‌ Challenging The 50-Day EMA

US 10YR FUTURE TECHS
  • RES 4: 122-00 Round number resistance
  • RES 3: 121-27+ High Apr 5
  • RES 2: 121-27+ High Apr 7
  • RES 1: 120-15+/19+ 50-day EMA / Intraday high
  • PRICE: 120-11+ @ 11:23 BST May 27
  • SUP 1: 119-03 Low May 23
  • SUP 2: 118-01+ Low May 18
  • SUP 3: 117-18 Low May 11
  • SUP 4: 116-21 Low May 9 and a bear trigger

Treasuries are trading at their recent highs. The contract has tested above the 50-day EMA, currently at 120-15+. A clear break of this average would pave the way for a climb towards the 122-00 handle. Gains are still considered corrective though and the primary trend direction remains down. Key support and the bear trigger is 116-21, May 9 low. Initial firm support has been defined at 118-01+, the May 18 low.

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