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(U0) Likely To Remain Vulnerable S/T

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 and key near-term resistance
  • PRICE: 125-256 @ 11:16 BST, Aug 27
  • SUP 1: 125-186 Low Aug 14 and key support
  • SUP 2: 125-17/16+ 100-dma / Low Jul 2
  • SUP 3: 125-13 50.0% retracement of the Jun 5 - Aug 4 rally
  • SUP 4: 125.096 Low Jun 16

5yr futures stalled last week at 125-306, Aug 21 high. Despite the most recent bounce, futures remain vulnerable. Price action on Aug 21 closed at the level it opened and this confirmed a Japanese candle pattern known as a doji. The pattern is important as it suggests the end of the corrective bounce between Aug 14 -21. This week's sell-off so far, reinforces this set-up. A deeper slide would again open 125-186, Aug 14 low. 125-306 is resistance.

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