Free Trial

(U2)‌‌ Support Is Still Intact

US 10YR FUTURE TECHS
  • RES 4: 123-13+ 1.764 proj of the 14 - 23 - 28 price swing
  • RES 3: 122-29+ High Mar 31
  • RES 2: 122-22+ 2.0% 10-dma envelope
  • RES 1: 120-29/122-02 High Aug 4 / High Aug 02
  • PRICE: 119-27+ @ 11:33 BST Aug 11
  • SUP 1: 119-16 Trendline support drawn from the Jun 16 low
  • SUP 2: 119-07+ 50-day EMA
  • SUP 3: 117-14+ Low Jul 21 and key near-term support
  • SUP 4: 116-11 Low Jun 28

Treasuries continue to trade closer to recent lows. The trend direction remains up and the latest move lower is still considered corrective. Importantly for bulls, the contract is trading above support at the 50-day EMA, which intersects at 119-07+. There is also a trendline support at 119-16. A break of this support zone would threaten the uptrend. A reversal higher would strengthen bullish conditions and refocus attention on 122-02.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.