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(U2)‌‌ Bull Cycle Still In Play

US 10YR FUTURE TECHS
  • RES 4: 121-28+ 1.382 proj of the 14 - 23 - 28 price swing
  • RES 3: 121-10 1.236 proj of the 14 - 23 - 28 price swing
  • RES 2: 120-19+ High May 26 and a key resistance
  • RES 1: 120-04 High Jul 1
  • PRICE: 119-08+ @ 11:22 BST Jul 5
  • SUP 1: 118-06 Low Jul 1
  • SUP 2: 117-16+ 20-day EMA
  • SUP 3: 116-11 Low Jun 28 and a key near-term support
  • SUP 4: 115-20 Low Jun 17

Treasuries are trading closer to the recent highs. The contract last week resumed the uptrend that started Jun 14 - resistance at 118-08 has been breached. Price is also through the 50-day EMA. This signals scope for a continuation higher and attention is on 120-19+, the May 26 high. Key short-term support has been defined at 116-11, Jun 28 low. A break would highlight a bearish reversal.

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