Free Trial

(U3) Corrective Bounce Holds… For Now

US 10YR FUTURE TECHS
  • RES 4: 111-29 High Aug 10
  • RES 3: 111-16 50-day EMA
  • RES 2: 110-29 High Aug 11
  • RES 1: 110-11 20-day EMA
  • PRICE: 109-20+ @ 17:08 BST Aug 24
  • SUP 1: 108-28/26+ Low Aug 22 / Low Oct 21 2022 (cont)
  • SUP 2: 108-12 1.00 proj of the Jul 18 - Aug 4 - Aug 10 price swing
  • SUP 3: 107-22 2.0% 10-dma envelope
  • SUP 4: 107.17 1.236 proj of the Jul 18 - Aug 4 - Aug 10 price swing

The trend direction in Treasuries remains down and Wednesday’s strong rally is considered corrective for now. The recent break of 109.24, the Aug 4 low, confirmed a continuation of the downtrend. Note too that moving average studies are in a bear-mode position, highlighting current market sentiment. The focus is on 108.12, a Fibonacci projection. Firm resistance is 110-09, the 20-day EMA. Gains are considered corrective.

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.