May 30, 2024 10:45 GMT
(U4) Bear Cycle Extends
US 10YR FUTURE TECHS
- RES 4: 109-28 High May 17
- RES 3: 109-14 50-day EMA
- RES 2: 109-00+ 20-day EMA
- RES 1: 108-19 High May 29
- PRICE: 108-07+ @ 11:34 BST May 30
- SUP 1: 107-31 Low May 29
- SUP 2: 107-20+ Low May 29
- SUP 3: 107-12+ Low Apr 25 and the bear trigger
- SUP 4: 107-00 Round number support
Treasuries remain vulnerable and yesterday’s extension lower reinforces a bearish theme and marks an extension of the reversal from the May 16 high. The contract has pierced 108-02+, the 76.4% retracement of the Apr 25 - May 16 climb. A clear breach of this price point would open the key support at 107-12+, the Apr 25 low. Initial firm resistance is seen at 109-00+, the 20-day EMA.
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