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(U4) Bullish Price Activity

US 10YR FUTURE TECHS
  • RES 4: 111-31 1.382 proj of the Apr 25 - May 16 - 29 price swing
  • RES 3: 111-17+ 1.236 proj of the Apr 25 - May 16 - 29 price swing
  • RES 2: 111-09 High Apr 1
  • RES 1: 111-01 High Jun 14
  • PRICE: 110-17+ @ 16:07 BST Jun 14
  • SUP 1: 109-17+/109-00+ 50-day EMA / Low Jun 10 and key support
  • SUP 2: 108-27+ Low Jun 3
  • SUP 3: 108-08+ Trendline drawn from the Apr low
  • SUP 4: 107-31 Low May 29 and a key support

A bull cycle in Treasuries remains in play and the contract traded higher again Friday. Price has cleared resistance at 110-21, the Jun 7 high. The break confirms a resumption of the bull cycle that started Apr 25, and paves the way for an extension towards 111-17+, a Fibonacci projection. On the downside, key support to watch lies at 109-00+, the Jun 10 low. Clearance of this level is required to reinstate a bearish theme.

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