(U0) Having Trouble at 140-13

• RES 4: 141-00 1.0% 10-dma envelope
• RES 3: 140-24 High Mar 9 and key resistance (cont)
• RES 2: 140-20 1.00 projection of Jun 5 - 11 rally from Jun 16 low
• RES 1: 140-13 Aug 4 / 5 / 6 High
• PRICE: 140-11 @ 16:03 BST Aug 6
• SUP 1: 139-08 Low Jul 28
• SUP 2: 139-00+ Low Jul 13
• SUP 3: 138-23+ Low Jul 2 and key near-term support
• SUP 4: 138-07 Low Jun 16 and reversal trigger

For a third consecutive session markets have had trouble topping congestion resistance at 140-13. The broader outlook remains bullish, however, with the week's lows yet to be tested on any pullbacks. Having cleared 139-25 last week, Treasury futures remain focused on the March continuation high at 140-24. On the downside, key support has been defined at 139-08, Jul 28 low a break of which would dent the current bullish tone.