RIKSBANK: MNI Riksbank Review: May '25 - Dovish Bias, But No Promises

• RES 4: 115-00+ High Oct 1 ‘24 
• RES 3: 114-29+ 2.000 proj of the Jan 13 - Feb 7 - Feb 12 price swing 
• RES 2: 114-16   2.000 proj of the Jan 13 - Feb 7 - Feb 12 price swing   
• RES 1: 112-29/114-10 50.0% of Apr 7 high-low range / High Apr 7 
• PRICE:‌‌ 1111-12 @ 14:34 BST Apr 8 
• SUP 1: 111-10+/110-08 20-day EMA  
• SUP 2: 111-10+ 20-day EMA 
• SUP 3: 110-20+ 50-day EMA 
• SUP 4: 110-06   Low Mar 27    

The strong sell-off from yesterday’s high in Treasury futures is considered corrective - for now - and this is allowing an overbought condition to unwind. Recent gains resulted in the break of resistance at 112-01, the Mar 4 high, to confirm a resumption of the uptrend. The move higher opens 114-16 next, a Fibonacci projection. On the downside, support at 111-10+, the 20-day EMA, has been pierced. A clear break of it would open 110-20+, the 50 day EMA

• A program buyer went through on the Cash open with 1875 names, the most since 19th March.
• Despite the bid in Cash indices, futures are seeing selling interest since the open, ESM5 is sold in over 10k.

ERK5 97.6875/97.8125ps, bought for 1.75 in 2k.