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(U4) Reversal Signal

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: 110-21 Intraday high
  • PRICE: 109-12 @ 14:11 BST Jun 7
  • SUP 1: 109-10+/09+ 20-day EMA / Intraday low
  • SUP 2: 108-27+ Low Jun 3
  • SUP 3: 108-04+ Trendline drawn from the Apr low
  • SUP 4: 107-31 Low May 29 and a key support

Treasuries have sold off following today’s employment report. The reversal lower undermines the recent bullish theme and highlights a potential bearish reversal. The contract has breached the 50-day EMA and pierced support at the 20-day EMA, at 109-10+. A clear breach of the average would strengthen bearish threat and open 108-27+, the Jun 3 low. Key short-term resistance is today’s high of 110-21, a break would reinstate the recent bullish theme.

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