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‌‌(U2)‌‌ Resolutely Bearish

US 10YR FUTURE TECHS
  • RES 4: 121-27+ High Apr 5
  • RES 3: 120-27+ High Apr 7
  • RES 2: 119-29/120-19+ 50-day EMA / High May 26 and bull trigger
  • RES 1: 119-16+ High Jun 1
  • PRICE: 117-06+ @ 14:54 BST Jun 10
  • SUP 1: 117-03 Low Jun 10
  • SUP 2: 116-29 Low Apr 29 2010
  • SUP 3: 116-21 Low May 9 and a bear trigger
  • SUP 4: 116-00 Round number support

Short-term conditions in Treasuries have deteriorated following the US CPI release, with prices plunging to new June lows and keeping the outlook resolutely negative. This keeps attention the May 9 low at 116-21, which holds as the bear trigger. Price remains well below the 50-day EMA at 119-29. This EMA still represents a key resistance and a clear break would allow for a stronger recovery towards 122-00.

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