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(U2)‌‌ Stalls At 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 / High May 26
  • PRICE: 119-17 @ 11:31 BST May 31
  • SUP 1: 119-03 Low May 23
  • SUP 2: 118-01+ Low May 18 and a key short-term support
  • SUP 3: 117-18 Low May 11
  • SUP 4: 116-21 Low May 9 and a bear trigger

Treasuries have faded off recent highs and are trading lower today. The 50-day EMA, at 120-15, has provided firm resistance. A clear break of this average is required to pave the way for a stronger bull cycle and this would open 122-00 handle. Recent 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 to watch is 118-01+, May 18 low.

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