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(U4) Bounce exposes Key Short-Term Resistance

US 10YR FUTURE TECHS
  • RES 4: 111-17+ 1.236 proj of the Apr 25 - May 16 - 29 price swing
  • RES 3: 111-09 High Apr 1
  • RES 2: 110-27+ 1.00 proj of the Apr 25 - May 16 - 29 price swing
  • RES 1: 110-16/110-21 Intraday high / High Jun 7 and key resistance
  • PRICE: 110-12+ @ 13:57 BST Jun 12
  • SUP 1: 109-00+ Low Jun 10 and a key short-term support
  • SUP 2: 108-27+ Low Jun 3
  • SUP 3: 108-06 Trendline drawn from the Apr low
  • SUP 4: 107-31 Low May 29 and a key support

Treasuries have rallied sharply higher today and in the process breached a number of short-term resistance points. Key near-term resistance has been defined at 110-21, the Jun 7 high. A break of this level is required to resume a recent bull cycle. On the downside, key support to watch lies at 109-00+, the Jun 10 low. Clearance of this level would instead confirm an extension of the reversal from the Jun 7 high.

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