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US‌‌ ‌‌10YR‌‌ ‌‌FUTURE‌‌ ‌‌TECHS:‌‌ ‌‌(U2)‌‌ Remains Below Recent Highs

US 10YR FUTURE TECHS
  • RES 4: 122-00 Round number resistance
  • RES 3: 121-27+ High Apr 5
  • RES 2: 120-27+ High Apr 7
  • RES 1: 120-09+/19+ 50-day EMA / High May 26 and bull trigger
  • PRICE: 118-26 @ 11:07 BST Jun 3
  • SUP 1: 118-16+ Low Jun 1
  • SUP 2: 118-01+ Low May 18 and a key short-term support
  • SUP 3: 117-18 Low May 11
  • SUP 4: 116-21 Low May 9 and a bear trigger

Treasuries are unchanged and are trading at this week's lows. Resistance at the 50-day EMA, at 120-09+ today, remains intact. A clear break of this EMA is still required to pave the way for a stronger recovery towards the 122-00 handle. Recent gains are considered corrective though and the primary trend direction remains down. Key support and the bear trigger is 116-21, May 9 low. Initial firm support to watch is 118-01+, May 18 low.

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