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TY Above Initial Resistance, Contract Still In Bearish Technical Conditions

US TSY FUTURES

The London morning rally leaves TYU3 looking above the 6 July high, registering best levels of 111-16 thus far. If bulls manage to cement the break above initial resistance it will allow them to switch their focus to the June 14 low (112-12+). A break there is needed to start turning the technical tide more in the favour of bulls, with a downtrend in play and moving average studies in bear mode.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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