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(U3) Watching Resistance At The 50-Day EMA

US 10YR FUTURE TECHS
  • RES 4: 114-06+ High Jun 6
  • RES 3: 114-00 High Jun 13
  • RES 2: 113-11+ 50-day EMA and a key resistance point
  • RES 1: 113-03 High Jul 13
  • PRICE: 112-17 @ 16:45 BST Jul 17
  • SUP 1: 112-07+ Low Jul 13
  • SUP 2: 111-03+/110-05 Low Jul 11 / 6 and the bear trigger
  • SUP 3: 110-00 Low Nov 9 2022 (cont)
  • SUP 4: 109-14 Low Nov 8 2022 (cont)

Treasury futures rallied last week and are holding on to their recent gains. The medium-term trend remains down and the latest recovery is likely part of a short-term corrective cycle. The contract has cleared the 20-day EMA and attention turns to a key resistance area at the 50-day EMA, at 113-11+. A clear break of this average would strengthen a bullish theme. Key support and the bear trigger has been defined at 110-05, the Jul 6 low.

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