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(U3) Bounces Ahead of Key Support

US 10YR FUTURE TECHS
  • RES 4: 115-29+ High May 17
  • RES 3: 115-19 High May 18
  • RES 2: 115-00 High Jun 1 and a key resistance
  • RES 1: 114-06+ / 114-30+ High Jun 6 / 50-day EMA
  • PRICE: 113-18 @ 16:20 BST Jun 8
  • SUP 1: 112-29+ Low May 26 / 30 and key support
  • SUP 2: 112-16 76.4% retracement of the Mar 2 - May 4 rally
  • SUP 3: 112-00 Low Mar 10
  • SUP 4: 111-14+ Low Mar 9

Treasury futures bounced ahead of the week’s lows Thursday, leaving support at 112-29+ intact. Nonetheless, the broader outlook remains negative for now, following the bearish engulfing candle pattern on June 2. The candle highlights a reversal and attention remains on key support and the bear trigger at 112-29+, the May 26 / 30 low. Clearance of this level would resume the downtrend that started May 4 and open 112-16+, a Fibonacci retracement. Initial resistance has been defined at 114-06+, the Jun 6 high.

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