US 10-Year Treasury Note Futures – Breakout ahead? [Video]

Carol Harmer Charmer Trading

US 10-Year Treasury Note futures have bounced off oversold technical indicators and rallied towards the 55-day moving average at 106.15, a key resistance level that needs to be broken to sustain the upward momentum.

Prices are currently swinging above the daily Pivot Point, and a confirmed break above the 55-day moving average could trigger the next move higher, initially targeting 107.01, followed by 107.23.

For today's trading, the daily Pivot Point at 106.00 will, as always, act as an important swing level, helping determine the market's intraday direction.

If prices fail to maintain a position above 106.00, we could see renewed selling pressure, with 105.16/15 becoming the next area to watch on the downside.

Key trading levels

Resistance: 106.15 → 107.01 → 107.23.
Daily Pivot: 106.00.
Support: 105.16/15.

The key question now is whether Treasury Note futures can break through the 55-day moving average and extend their recovery, or whether resistance will bring sellers back into the market.

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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