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(U4) Bear Cycle Remains In Play

US 10YR FUTURE TECHS
  • RES 4: 109-28 High May 17
  • RES 3: 109-13 50-day EMA
  • RES 2: 108-31 20-day EMA
  • RES 1: 108-21 Intraday high
  • PRICE: 108-15 @ 11:13 BST May 31
  • 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 this week’s move lower reinforces the current bearish theme. This move down 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 break of this price point would open the key support at 107-12+, the Apr 25 low. Initial firm resistance is seen at 108-31, the 20-day EMA.

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