Free Trial

US 10YR FUTURE TECHS: (U4) Pullback Persists, But Bullish Backdrop Remains

US 10YR FUTURE TECHS
  • RES 4: 112-25   High Mar 8 
  • RES 3: 112-10   1.50 proj of the Apr 25 - May 16 - 29 price swing
  • RES 2: 111-31   1.382 proj of the Apr 25 - May 16 - 29 price swing
  • RES 1: 111-13+/17+ High Jul 16 / 1.382 of Apr 25-May 16-29 swing 
  • PRICE:‌‌ 110-28+ @ 16:05 BST Jul 23
  • SUP 1: 110-21+/110-08 20- and 50-day EMA values 
  • SUP 2: 109-02+/109-00+ Low Jul 1 / Low Jun 10 and key support
  • SUP 3: 108-27+ Low Jun 3   
  • SUP 4: 108-25+ Trendline drawn from the Apr 25 low 

A bullish theme in Treasuries remains intact despite a fade in prices through late last week and into Monday morning. Short-term pullbacks are proving to be corrective at this stage. The contract has traded through resistance at 111-10+,  the Jul 8 high. This confirms a resumption of the bull cycle and has opened 111-17+ and 111-31, the 1.236 and 1.382 projection of the Apr 25 - May 16 - 29 price swing. Initial support is 110-21+, the 20-day EMA.    

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.