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Retracement Extends


Move Lower Likely A Correction


Approaching The 20-Day EMA

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US 5YR FUTURE TECHS: (U0) Bullish Conditions Intact
*RES 4: 126-04+ 0.764 projection of Jun 5 - 15 rally from Jun 16 low
*RES 3: 126-00 Round number resistance
*RES 2: 125-31+ 0.618 projection of Jun 5 - 15 rally from Jun 16 low
*RES 1: 125-28+ High Jul 10 and near-term bull trigger
*PRICE: 125-242 @ 11:21 BST, Jul 16
*SUP 1: 125-166 Low Jul 2 and key near-term support
*SUP 2: 125-096 Low Jun 16 and a reversal trigger
*SUP 3: 125-03 Low Jun 10
*SUP 4: 124-276 Low Jun 9
5yr futures are unchanged and continue to trade below 125.28+, Jul 10 high.
Bullish conditions remain intact. Recent gains resulted in a breach of 125-272,
Mar 30 high to confirm a resumption of the underlying uptrend. From a trend
perspective, the move higher has resumed the positive price sequence of higher
highs and higher lows that defines an uptrend. The focus is on 125-31+, a
Fibonacci projection. Key support is at 125-166.

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