US 10YR FUTURE TECHS: (M5) Monitoring Support

• RES 4: 113-22   1.382 proj of the Apr 11 - 16 - 22 price swing 
• RES 3: 113-04   76.4% retracement of the Apr 7 - 11 bear leg
• RES 2: 112-20+ High May 1 and key new-term resistance
• RES 1: 112-01+ High May 2
• PRICE:‌‌ 111-01+ @ 17:10 BST May 8
• SUP 1: 110-27+ Low May 6  
• SUP 2: 110-16+/109-08 Low Apr 22 / 11 and the bear trigger
• SUP 3: 110-00   100-dma
• SUP 4: 108-26+ 76.4% retracement of the Jan 13 - Apr 7 bull cycle

Treasury futures are trading toward recent lows. This further undermines the recent bull cycle. The contract has breached the 20-day EMA, and pierced support at the 50-day EMA, at 110-31+. A clear break of this average would strengthen a bearish threat and expose 110-16+, Apr 22 low. For bulls, price needs to trade above key short-term resistance at 112-20+, the May 1 high, to reinstate a bullish theme.