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US 10YR FUTURE TECHS: (U4) Bear Threat Remains Present

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: 109-15/110-21 50-day EMA / High Jun 7 
  • PRICE:‌‌ 109-07 @ 17:22 BST Jun 11
  • SUP 1: 109-00+ Low Jun 10
  • 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 sold off sharply last Friday and the contract remains soft for now. The sell-off undermines the recent bullish theme and also highlights a potential bearish reversal. Price has breached both the 50- and 20-day EMAs. A continuation lower would strengthen a bearish threat and open 108-27+, the Jun 3 low. Key short-term resistance is Friday’s high of 110-21, where a break is required to reinstate the recent bullish theme.

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