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(U0) 139-25 Marks The Hurdle For Bulls

US 10YR FUTURE TECHS
  • RES 4: 140-22+ High Mar 9 and key resistance (cont)
  • RES 3: 140-02 0.764 projection of Jun 5 - 11 rally from Jun 16 low
  • RES 2: 140.00 High Mar 17 (cont) and psychological barrier
  • RES 1: 139-25 High Mar 25 and Jul 24 and bull trigger
  • PRICE: 139-19+ @ 11:28 BST Jul 29
  • SUP 1: 139-00+ Low Jul 13
  • SUP 2: 138-23+ Low Jul 2 and key near-term support
  • SUP 3: 138-07 Low Jun 16 and reversal trigger
  • SUP 4: 137-22 Low Jun 10

10yr futures traded higher yesterday. The outlook remains bullish. 139-
25, Friday's high also marks the high on Mar 25 and represents a major
resistance. Attention is on this hurdle for bulls, where a break would
confirm a resumption of the uptrend and expose 140-00, Mar 17 high
(cont) and a key psychological barrier. Key support remains 138.23+, a
breach would signal a reversal. Initial support is 139-00+.

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