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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.
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Free Access(U3) Bearish Engulfing Candle
- RES 4: 115-19 High May 18
- RES 3: 115-07+ 1.0% 10-dma Envelope
- RES 2: 115-04 50-day EMA
- RES 1: 114-03+ / 115-00 Intraday high / High Jun 1
- PRICE: 113-27 @ 15:59 BST Jun 5
- SUP 1: 113-10 Low Jun 05
- SUP 2: 112-29+ Low May 26 / 30 and key support
- SUP 3: 112-16 76.4% retracement of the Mar 2 - May 4 rally
- SUP 4: 111-20+ Low Mar 10
Treasury futures faltered Friday and have extended the pullback from 115-00, the Jun 1 high. A rally into the close failed to materially alter the picture. This keeps focus on the bearish engulfing candle posted Friday, signaling the end of the recent recovery and suggesting potential for a continuation lower. Attention is on key short-term support and the bear trigger at 112-29+, the May 26 / 30 low. A break of this level would resume the downtrend since May 4. Key resistance is at 115-00, where a break is required to reinstate a bullish theme.
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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.