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(U0) Doji Reversal?

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: 125-306 High Aug 21
  • PRICE: 125-262 @ 11:19 BST, Aug 24
  • 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 stalled last week at 125-306, Friday's high. Importantly, Friday's session closed at the same price it opened and this has confirmed a Japanese candle pattern known as a doji. The pattern is important as it suggests a potential end to the corrective bounce between Aug 14 -21. Today's weakness so far, reinforces this set-up. A deeper sell-off would once again open 125-186, Aug 14 low. Initial resistance is at 125-306.

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