October 11, 2024 10:27 GMT
US 10YR FUTURE TECHS: (Z4) Bear Threat Firms
US 10YR FUTURE TECHS
USFixed Income Technical AnalysisCredit BulletsGlobalBulletMarketsFixed Income BulletsRegionNorth America
- RES 4: 115-00+ High Oct 1
- RES 3: 113-22+ 20-day EMA
- RES 2: 113-21 50-day EMA
- RES 1: 113-12 Low Sep 3 and a recent breakout level
- PRICE: 112-02+ @ 11:24 BST Oct 11
- SUP 1: 111-22 Low Oct 10
- SUP 2: 111-14 50.0% retracement of the Apr - Sep bull cycle (cont)
- SUP 3: 110-28 2.0% 10-dma envelope
- SUP 4: 111-00 Low Jul 22
A bear threat in Treasuries remains present and the contract has traded new pullback lows on the post-CPI / weekly jobs data volatility. The latest sell-off has resulted in a break of not only the 50-day EMA, but also the 112-00 handle. The move undermines the prior bullish theme and instead highlights potential for a continuation lower. Sights are on the 111-14, the 50% retracement for the Apr - Sep bull leg. 113-12, the Sep 3 low, is the first resistance.
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