US 10YR FUTURE TECHS: (U5) Clears Resistance

• RES 4: 112-04+ High May 2 
• RES 3: 111-30   76.4% retracement of the May 1 - 22 downleg
• RES 2: 111-20   1.0% 10-dma envelope
• RES 1: 111-14+ High Jun 5 & 61.8% retracement of the May 1 - 22 downleg   
• PRICE:‌‌ 110-28 @ 17:06 BST Jun 5
• SUP 1: 110-11   Low Jun 3 and a key near-term support          
• SUP 2: 109-26/12+ Low May 29 / 22 and the bear trigger 
• SUP 3: 109-09+ Low Apr 11 and key support
• SUP 4: 108-25+ 0.764 proj of the Apr 7 - 11 - May 1 price swing

Treasury futures spiked Thursday before meeting a key retracement level and staging an intraday reversal. Despite the reversal, the latest climb has resulted in a breach of resistance at 110-23, the May 16 high. This has also resulted in a move above the 50-day EMA, undermining a recent bearish theme. Sights are on 111-14+, a Fibonacci retracement. On the downside, initial support to watch lies at 110-11, the Jun 3 low. A break of it would signal a possible reversal.