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(U0) Corrective Bounce Extends

US 5YR FUTURE TECHS
  • RES 4: 126-05+ High Aug 7
  • RES 3: 126-01 High Aug 11
  • RES 2: 125-396 76.4% retracement of the Aug 5 - 14 sell-off
  • RES 1: 125-292 61.8% retracement of the Aug 5 - 14 sell-off
  • PRICE: 125-282 @ 11:24 BST, Aug 20
  • SUP 1: 125-23+ Low Aug 17
  • SUP 2: 125-186 Low Aug 14 and key support
  • SUP 3: 125-16+ Low Jul 2
  • SUP 4: 125-15+ 100-dma

5yr futures are holding onto this week's gains and have edged higher again today. The broader outlook for now however remains bearish. Price last week traded through 125-22+ (the late July low). This reinforced the current bearish theme signalling scope for an extension lower. Resistance levels to watch are at 125-292 and 125-396, both Fibonacci retracements. A move lower would open 125-186, the Aug 14 low and key support.

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