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(U2)‌‌ Outlook Remains Bearish

US 10YR FUTURE TECHS
  • RES 4: 121-27+ High Apr 5
  • RES 3: 120-27+ High Apr 7
  • RES 2: 120-00/19+ 50-day EMA / High May 26 and bull trigger
  • RES 1: 119-16+ High Jun 1
  • PRICE: 117-29 @ 15:04 BST Jun 9
  • SUP 1: 117-22 Low Jun 9
  • SUP 2: 117-18 Low May 11 07
  • SUP 3: 116-21 Low May 9 and a bear trigger
  • SUP 4: 116-00 Round number support

Short-term conditions in Treasuries remain bearish following recent weakness. Price is trading below the 50-day EMA - at 120-00. This EMA represents a key resistance and a clear break would allow for a stronger recovery towards 122-00. The recent move away from the average continues to suggest the correction between May 9 - 26 is over. A continuation lower would open key support at 116-21, May 9 low.

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