US 10YR FUTURE TECHS: (U6) Outlook Remains Bearish
Jun-08 10:23
- RES 4: 111-02+ High Apr 24
- RES 3: 110-28+ High May 7
- RES 2: 110-05+ 50-day EMA
- RES 1: 109-19+/110-00+ 20-day EMA / High May 29
- PRICE: 108-30 @ 11:12 BST Jun 8
- SUP 1: 108-25 Intraday low
- SUP 2: 108-08+ Low May 19 and the bear trigger
- SUP 3: 108-04 1.382 proj of Apr 17 - May 4 - 7 swing
- SUP 4: 107-29 1.618 proj of the Apr 17 - May 4 - 7 price swing
Treasuries are trading lower today. The latest move down reinforces a M/T bearish theme and also potentially provides an early signal that the corrective cycle that started May 19, is over. Note that recent gains have allowed an oversold trend condition to unwind. Resistance to watch is 110-05+, the 50-day EMA. The bear trigger lies at 108-08+, the May 19 low. Clearance of this level would confirm a resumption of the downtrend.
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